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SBP Demands Banks to Alter Lending Mechanisms for Tier-1 Applicants

Thursday (February 3) in Karachi, the State Bank of Pakistan (SBP) altered the Naya Pakistan Housing Programme (NPHP) funding restrictions to accommodate Tier-1 applicants, according to news sources. Under the new rules, the financial structure of the government’s Naya Pakistan Low-Cost Housing Scheme (NPLHS) of Kamyab Pakistan Program has been modified.

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The following modifications were performed in response to the notification:

  • Tier-1 candidates are not required to submit Proxy Mean Test (PMT) scores in order to obtain Naya Pakistan Housing & Development Authority financing (NAPHDA). The candidate is no longer required to be an Ehsaas participant.
  • Tier-1 NAPHDA housing designs for low-cost housing will be expanded and built nationwide, as opposed to being limited to a few regions or districts.
  • The NPLCHS allows financial institutions to continue issuing wholesale loans through Microfinance Providers (MFPs), but prohibits them from lending directly to clients.

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For more updates, stay tuned to Al Sadat Marketing.

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Al Sadat Marketing is an emerging Real Estate Agency headquartered in Islamabad, Pakistan. With over 10+ Years of experience, Al Sadat Marketing is providing its services and dealing all trending housing societies projects in different cities of Pakistan. Islamabad Projects, Rawalpindi Projects, Gujar Khan Projects, Burhan Projects, and Peshawar Projects etc.

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