FLASHNEWS:

Meezan Bank Allocates Rs49 Billion for Affordable Housing Under Government Scheme

KARACHI: Meezan Bank has announced the approval of 6,880 housing finance cases, totaling approximately Rs49 billion, under the Wazir-e-Azam Apna Ghar Program - Ghar Ho Tu Apna (GHTA) Scheme. As of September 30, 2026, the initiative has enabled 1,000 families to secure financing amounting to Rs7.34 billion.

According to Meezan Bank Limited, the bank received more than 27,800 applications valued at approximately Rs179 billion through its network and the Pakistan Housing Authority (PHA) portal, indicating significant demand for affordable housing finance. Specifically, 13,474 applications totaling Rs100.7 billion were submitted via the bank's network, while an additional 14,397 applications worth Rs78.65 billion came through the PHA network.

The scheme aims to provide Pakistani families with access to Shariah-compliant housing finance, aligning with the government's broader agenda to expand affordable housing. Meezan Bank's involvement is intended to support the expansion of affordable home ownership and introduce Islamic housing finance options to the public.

Ahmed Ali Siddiqui, Group Head Consumer Finance at Meezan Bank, stated, "At Meezan Bank, we believe that Islamic finance can play a meaningful role in making home ownership accessible to a much larger segment of society. Through Ghar Ho Tu Apna, we are committed to working with the Government to transform the aspiration of home ownership into a reality for thousands of Pakistani families."

The bank reiterated its commitment to enhancing affordable home ownership and contributing to Pakistan's housing sector, leveraging its extensive network, expertise in Islamic finance, and expanding housing-finance capabilities.