KARACHI: JS bank for the first time along with Garden Square Developers is all set to provide home financing service. It is based at the lowest mark-up ratios under the Government of Pakistan’s Mark-up Subsidy Scheme supported by the State Bank of Pakistan. Through this initiative, those investing in Garden Square Developer’s projects will be able to get low-cost house financing opportunities.
The agreement was signed by Basir Shamsie, President & CEO – JS bank and Ahsan Aleem Khan, Director- Garden Square Developers. There were also other guests were present including Fahad Siddiqui, Head of Secured Lending, Zulfiqar Ali Lehri, Distribution Head Consumer Lending on behalf of JS bank alongside. Garden Square Developers was, however, represented by Muhammad Wasim khan, CEO and Zunair Aleem Khan, Director Garden Square Developers.
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At this event, Basir Shamsie, CEO JS bank remarked, “JS bank is committed to materializing the government‘s vision of providing housing to lower and middle-class income segments of Pakistan, as implemented by State bank of Pakistan through banks. We are facilitating and providing best-in-class services to promote the low cost and affordable homeownership across Pakistan through our branch network.”
Mr. Shamsie further said, “ JS bank being one of the top conventional home loan providers in Pakistan is uniquely positioned to help homebuyers through the provision of value-added offerings and a seamless customer journey.” JS Bank has taken this right step to facilitate the potential homebuyers through their flexible loan service. It will enable the buyers to borrow as much as 90% of the total value of the property.
Read more: Naya Pakistan Housing Scheme: NADRA Received 1.6 million Applications Since Extension
Wasim Khan, CEO Garden Square Developers expressed his opinion saying,” we are delighted to partner with JS bank to offer home financing to our valued customers. Our mission has always been to empower the Pakistani people with homeownership and JS bank’s innovative offerings including attractive home loan rates and faster approval will make easy the journey towards that goal. This collaboration with JS Bank will enable us to send our message across key markets.”
JS Bank
With its headquarters in Karachi, JS Bank was established in 2007 as a result of a merger between two mega corporates; Jahangir Siddiqui Investment Bank Limited and American Express Bank Limited. It aims to become the biggest mortgage providers and SME banks in Pakistan and has recently hit the Rs. 400 billion mark.
JS Bank has achieved an array of milestones. To name a few, In 2019, it became the only Pakistani bank to have been accredited by the Green Climate Fund. In 2020, it was honored with the Asiamoney Awards for the best bank for CSR and SMEs. In addition, the bank won the prestigious Certificate of Merit in the Banking Sector in December 2020.
Committed to its role as a catalyst towards Pakistan’s progress and prosperity, the bank hopes to continue this journey of impact by providing a variety of innovative conventional and digital solutions in the years ahead, says CEO Shamsie.
Read more: JS Bank wins prestigious Certificate of Merit in Banking Sector