KMBL gives home loans of Rs10.9b
Growth driven by microfinance banks as borrowers, loan portfolio rise. PHOTO: BLOOMBERG
Khushali Microfinance Bank Limited (KMBL) has won the award for the best microfinance bank in Pakistan for its professionalism and vision of sustainable development.
The Bank launched the ‘Khushali Home Plus Loan’ facility in 2018 under which low-income people were offered loans up to Rs1 million on easy terms for renovation and repair of their homes.
Under this facility, loans of Rs8 billion have already been provided to more than 15,900 low-income people to accelerate socio-economic development. The housing markup-subsidy scheme introduced by the government in July 2021 improved the bank’s portfolio and further strengthened Khushhali Bank’s ‘High Ticket House Loan Scheme’.
Under the government’s subsidy scheme, Khushhali Apna Makan (KAM) sanctioned a total of over Rs3 billion for housing finance customers from which more than Rs1.8 billion was distributed to 1400 people in rural areas.
The amount allocated for women under this scheme alone is Rs510 million.
Published in The Express Tribune, July 14th, 2022.
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