Bank Alfalah, AIM ink deal

KARACHI: The Bank Alfalah Islamic has signed a memorandum of understanding (MoU) with Akhuwat Islamic Microfinance to offer exclusive housing finance solutions to its customers, a statement said on Thursday.

Through this MoU, AIM will coordinate with the Bank Alfalah Islamic in identifying individuals who desire to obtain this facility under the scheme, it added.

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

Dr Muhammad Amjad Saqib, executive director of AIM, said: “We look forward to working with the Bank Alfalah Islamic on this noble project to bring affordable and convenient housing solutions to the deserving masses of Pakistan.”

Dr Muhammad Imran, group head of Bank Alfalah Islamic, said: “Bank Alfalah Islamic foresees this partnership with Akhuwat Islamic Microfinance to go a long way and will further strengthen the bank’s position as a leader in product innovation and extend the low-cost housing finance to the underprivileged citizens of Pakistan.”