Karachi
\nHABIBMETRO Bank has subscribed to a secured, unlisted and redeemable Privately Placed Term Finance Certificate (PPTFC) of Rs. 1.5 billion issued by Pakistan Mortgage Refinance Company Limited (PMRCL) for a tenure of five years, with Mohsin Tayebaly & Co. serving as the transaction legal counsel.
\nThis initiative will contribute to the Government of Pakistan and State Bank of Pakistan\u2019s vision and efforts for promoting the housing and construction sector in Pakistan aimed at stimulating economic growth.
\nA signing ceremony was held at HABIBMETRO Head Office, Karachi. HABIBMETRO President & CEO, Mohsin Ali Nathani, Group Executive \u2013 Corporate and Transaction Banking, Khurram Shahzad Khan, Head Investment Banking, Hafiz Faraz Ali, Head Financial Institutions, Sehba Mansoor, and other senior executives were present at this ceremony.
\nPMRCL CEO\/MD Muddasir H. Khan, Head of Treasury & FI\u2019s Farrukh Zaheer, Head of Business, Muhammad Shahzad Khan, and other senior team members also attended the ceremony.
\nCommenting on this new partnership, HABIBMETRO Group Executive \u2013 Corporate and Transaction Banking, Khurram Shahzad Khan said,
\n\u201cWe are excited to collaborate with Pakistan Mortgage Refinance Company. This mutually beneficial partnership will promote the initiatives of the Government & the SBP whereby they are endeavoring to drive economic growth by creating demand and generating activity within the construction\/housing sector.\u201d
\nPMRCL, Head of Treasury & FI\u2019s, Farrukh Zaheer said,
\n\u201cWe are pleased to partner with HABIBMETRO Bank for a secured privately placed Term Finance Certificate. We are delighted as this facility will further contribute towards the housing finance market and is aimed at improving accessibility and affordability for the end borrowers\u201d.
\nAbout Habib Bank AG Zurich (HBZ)
\nHBZ provides banking services in 10 countries around the world (Switzerland, UK, UAE, Pakistan, Canada, Hong Kong, South Africa, Kenya, and rep offices in Bangladesh, China, and Pakistan). The Group, which is incorporated in Switzerland, completed 50 years of operations in 2017.
\nAbout HABIBMETRO Bank
\nHABIBMETRO Bank is a subsidiary of Habib Bank AG Zurich in Pakistan. It is one of the leading trade finance banks in the country and operates with over 450 + branches in 165 cities of Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi HABIBMETRO Bank has subscribed to a secured, unlisted and redeemable Privately Placed Term Finance Certificate (PPTFC) of Rs. 1.5 billion issued by Pakistan Mortgage Refinance Company Limited (PMRCL) for a tenure of five years, with Mohsin Tayebaly & Co. serving as the transaction legal counsel. This initiative will contribute to the Government of Pakistan […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-221296","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n