PMRC, HBL Islamic banking close another Sukuk worth Rs1bn

By MG News | June 17, 2021 at 10:09 AM GMT+05:00

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June 17, 2021: Pakistan Mortgage Refinance Company (PMRC) announced the closing of yet another Sukuk, with HBL Islamic Banking. This sukuk will serve to make Shariah Compliant Housing Finance more accessible to the public.

During the ceremony, Mudassir CEO/MD PMRC said, “PMRC is delighted to partner with HBL Islamic Banking for this Sukuk. The funds raised under this Sukuk are important for the promotion of the Islamic housing finance market. I am confident this will be beneficial in the growth of fixed-rate, low-cost housing for the end consumers”.

On the occasion, Muhammad Afaq Head HBL Islamic Banking said that HBL Islamic Banking is pleased to be collaborating with PMRC in the placement of the PKR 1 Billion Sukuk. The funds will be used to promote financing in the housing sector of Pakistan with a special focus on low-cost housing initiatives. This will enable us to play our part in the economic development of the country.

Press Release

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