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To assist the real-estate sector, the Government of Pakistan announced a reduction in interest rates on mortgage loans in 2012. [1] [2] In 2017, the housing gap in Punjab, one of the largest provinces of Pakistan, was around 2.3 million units, this figure is expected to reach the figure of 11.3 million units by the end of 2047. [3]
The Supreme Court of Pakistan, during the tenure of former President General (retd) Pervez Musharraf, passed the decision of the Federal Shariah Court on 14 November 1991 in which interest was declared un-Islamic. Following this, on 23 December 1999, the Appellate Shariah Bench of the Supreme Court upheld the 1992 order of the Shariah Court and ...
House Building Finance Company was founded in 1951. Before the independence of East Pakistan, it was headquartered in Dacca. [3] It was incorporated as a corporation on 25 July 2007 and is jointly owned by the State Bank of Pakistan (90.31 percent) and Government of Pakistan (9.69 percent). [2]
Pakistan's finance ministry expects the economy to grow by 2.6% in the fiscal year ending in June, while average inflation for the year is projected to stand at 24%, down from 29.2% the previous ...
In the U.S., most states have a judicial foreclosure process where the bank asks the court to sell the property to recover the balance of its loan and accrued interest, plus any other costs of the suit. How is then Musharaka al-Mutanaqisa going to address the interest portion of the payment from borrower to the bank. The concept of title here ...
Real estate can be a great addition to your portfolio if you're hoping to diversify and create passive income. And investment property loans can make it easier to purchase property if you're ...
As of 2020, the total number of loans Akhuwat has disbursed amounts to PKR 128 billion (US$798 million). Akhuwat's loan portfolio consists of 58% male borrowers and 42% female borrowers. [12] The most common type of loan offered by Akhuwat is the Family Enterprise Loan which comprises 92% of Akhuwat's loan portfolio.
China has rolled over a $2 billion loan to Pakistan, caretaker finance minister Shamshad Akhtar confirmed in a response to Reuters on Thursday. The $2 billion loan was due in March and has been ...