Pakistan's premier housing finance institution, House Building Finance Company Limited (HBFCL) has taken a new initiative of signing a Memorandum of Association (MOU) with Pakistan's first and largest branchless banking service, a joint-venture between Tameer Microfinance Bank and Easy Paisa of Telenor Pakistan. The MOU was signed at an elegant ceremony held at a local hotel.
The significance of this MOU is that, under this arrangement HBFCL and Easy Paisa have reached an understanding to use Easy Paisa Services Network to facilitate HBFCL customers for paying their instalments timely. The MOU partners anticipate that a large number of target customers would prefer to avail this service in view of the unique facility it offers.
It is a group based model which provides that the borrowers obtaining loans from HBFCL would be able to repay their loan instalments through Easy Paisa outlets or online. Along with the existing facility of repayment of loan instalments through post-dated cheques, this is an additional facility being offered to HBFCL customers. At the MOU signing ceremony, HBFCL was represented by Pervez Said, (Managing Director/CEO) Tahir Siddiqui, (EVP Strategic Planning), Minhaj Qureshi, (EVP Legal). On behalf of Tameer Bank / Easy Paisa, Nadeem Hussain, (CEO Tameer Bank Ltd), Rehan Ahmed Akhtar, (Director B2B and Post Paid), Shahbano Hameed, (National Manager, Corporate Solutions), Easy Paisa and others were present at the ceremony.-PR