F.P. Report
KARACHI: JS Bank has joined hands with Garden Square Developers to provide home financing at minimal markup rates under the Government of Pakistan’s Markup Subsidy Scheme, backed by State Bank of Pakistan.
Under this scheme, JS Bank aims to provide low-cost house financing to individuals investing in Garden Square Developer’s projects. The agreement was signed between Basir Shamsie, President & CEO – JS Bank and Ahsan Aleem Khan, Director – Garden Square Developers. Also present on location were Fahad Siddiqui, Head of Secured Lending and Zulfiqar Ali Lehri, Distribution Head Consumer Lending on behalf of JS Bank alongside while Garden Square Developers was represented by Muhammad Wasim Khan, CEO and Zunair Aleem Khan, Director.
Speaking on the occasion, Basir Shamsie, said, “JS Bank is committed to materializing the government’s vision of providing housing to lower and middle-class income segments of Pakistan, as implemented by State Bank of Pakistan through banks. We are facilitating and providing best in class services to promote low cost and affordable home ownership across Pakistan through our branch network. JS Bank, being one of the top conventional home loan providers in Pakistan, is uniquely positioned to help homebuyers through provision of value-added offerings and a seamless customer journey.”
Muhammad Wasim Khan shared his vision for the project, “We are delighted to partner with JS Bank to offer home financing to our valued customers. Our mission has always been to empower the Pakistani people with home ownership and JS Bank’s innovative offerings including attractive home loan rates and faster approvals will make easy the journey towards that goal. This collaboration with JS Bank will enable us to send our message across key markets”.
JS Bank has taken this crucial step to provide flexible loans to the home buyers of today, making it possible for them to borrow as much as 90% of the property’s value and hence bringing home ownership within the reach of many who would not be able to afford it otherwise.
