UBL, AIM sign deal

KARACHI: The United Bank Limited (UBL) has been one of the leading advocates of the government-backed “Mera Pakistan Mera Ghar” low-cost housing finance scheme since its inception, a statement said on Tuesday.

To further enhance the bank’s promotion and extension of this facility, UBL signed an agreement with Akhuwat Islamic Microfinance (AIM) to offer exclusive housing finance solutions to the customers of Akhuwat.

Further, UBL will provide housing finance solutions on the low-cost housing variants under Islamic financing mode and will offer exclusive arrangements to the customers of Akhuwat, it added.

AIM, a not-for-profit organisation, has in-depth expertise of serving the underprivileged through favourable financial schemes.

Through this agreement, AIM will coordinate with UBL in the identification of the individuals who desire to obtain a facility under the scheme.

Both parties will explore viable business opportunities under the scheme and work towards extending the facility to the maximum number of deserving candidates, it added.

Shazad G Dada, president and UBL CEO, along with Zia Ijaz, group executive, Branch Banking and International, Tanveer Farhan Mahmood, head Islamic banking and other senior executives were present on behalf of UBL.

AIM was represented by Dr Muhammad Amjad Saqib, executive director, along with other senior officials, it added.