Islamabad: Mobilink Bank, a leading digital microfinance institution, has partnered with IMARAT Group, a major player in the real estate sector, to enhance housing finance access in Pakistan amid a severe housing shortage. This collaboration aims to leverage technology-driven banking solutions to empower economically underserved communities.

The World Bank estimates that Pakistan faces a housing deficit of approximately 12 million units. This shortage is exacerbated by rising property prices and escalating mortgage rates, making housing unaffordable for many. Mobilink Bank's strategic partnership with IMARAT Group seeks to address these challenges by offering inclusive financial solutions that simplify access to affordable housing for low-income households.

The partnership will digitize the mortgage process for IMARAT's customers and employees, integrating IMARAT's Propmex.ai platform with Mobilink Bank's systems to facilitate seamless property verification and a fully digital onboarding experience. Additionally, Mobilink Bank's Mortgage Calculator will be available on IMARAT's digital channels, allowing users to evaluate their home financing options.

Mobilink Bank will extend its Employee Banking Suite to IMARAT's workforce, providing salary accounts, digital banking services, insurance, and exclusive financial benefits. IMARAT employees will have access to preferential loan products, including house finance and personal loans, aimed at supporting financial stability and sustainable living.

In return, IMARAT Group will open corporate banking accounts with Mobilink Bank, maintaining significant current account balances to foster business growth. To boost digital banking access, Mobilink Bank plans to install ATMs and Cash Deposit Machines at IMARAT's commercial sites and deploy POS machines across its retail outlets.

Atta-ur-Rehman, Chief Business Officer of Mobilink Bank, emphasized the importance of breaking down barriers to housing access, stating that the collaboration aims to make housing finance more accessible and inclusive. Shafiq Akbar, Chairman of IMARAT Group, highlighted the role of technology in transforming real estate operations, expressing optimism about the partnership's potential to make home ownership more attainable.

The alliance positions Mobilink Bank as a leader in digital banking and housing finance, reaffirming its commitment to addressing the financial needs of a diverse clientele.