KARACHI: President & CEO of U Microfinance Bank Limited (U Bank) Kabeer Naqvi and Managing Director& CEO of Pakistan Mortgage Refinance Company Limited (PMRC), Mudassir H Khan, signed Memorandum of Understanding to support and promote affordable housing finance in the country.

Under this agreement PMRC will provide U Bank with long-term funding at discounted rates to promote housing finance.

This new relationship will not only strengthen the bond between both the institutions, but will also open up multiple avenues for collaboration, including Low Cost Housing Finance, Credit Guarantee Scheme and Capacity Building (including training, product design, assistance in market research etc.)

Copyright Business Recorder, 2021