DIB Pakistan Partners with Pakistan Mortgage Refinance Company to Expand Affordable Shariah-Compliant Housing Finance.

DIB Pakistan has signed a PKR 6 billion Musharakah financing facility with Pakistan Mortgage Refinance Company Limited (PMRC) to expand access to affordable Islamic housing finance and support sustainable homeownership across Pakistan.

The initiative aligns with the Government of Pakistan’s vision to address the country’s housing shortage while fostering financial inclusion through Islamic banking.

Promoting Sustainable Homeownership

The collaboration utilizes a Shariah-compliant Musharakah structure, which serves to reinforce the capital reserves available for housing loans. This liquidity injection allows DIB Pakistan to offer competitive, long-term financing options to middle- and low-income segments seeking to build or purchase residential properties.

Speaking on the occasion, Muhammad Ali Gulfaraz, Chief Executive Officer of DIB Pakistan, said:

“DIB Pakistan remains committed to providing innovative, customer-centric, financial solutions that create lasting value for our communities. Our collaboration with PMRC represents an important step in strengthening our housing finance portfolio and expanding access to affordable home financing”.

Addressing Liquidity Gaps in the Market

By providing refinancing facilities to financial institutions, PMRC plays a pivotal role in lengthening the maturity profile of housing loans. This partnership addresses the traditional maturity mismatch in the banking sector, where short-term deposits are used to fund long-term mortgages.

Commenting on the partnership, Raheel Qamar Ahmad, CEO of PMRC, said:

“PMRC’s mission is to expand Pakistan’s housing finance market by providing long-term liquidity to financial institutions. Our collaboration with DIB Pakistan is promising for a larger number of Pakistanis looking for affordable, Shariah-compliant housing finance. We look forward to increased homeownership.”

The signing ceremony was attended by senior representatives from both organizations, who expressed confidence that this PKR 6 billion facility will help streamline the credit flow to the mortgage sector, encouraging safer and more accessible paths to homeownership in the country.