In a significant move to tackle the housing shortage and promote financial inclusion, Faysal Bank Limited (FBL) has officially rolled out its Mera Ghar Mera Ashiana program. This initiative is the bank's direct implementation of the State Bank of Pakistan's (SBP) flagship Subsidized Profit, Low-Cost Housing Finance Scheme.
A Step Towards Inclusive Home Ownership
The program is designed with a clear focus on empowering low- to middle-income segments of Pakistani society, groups that have historically found it difficult to access formal housing finance. Faysal Bank is positioning this as a key part of its commitment to enabling financial stability and supporting underserved communities. By offering Shariah-compliant solutions, the bank ensures its products are accessible, transparent, and tailored for first-time home buyers, aligning with the broader vision of the SBP and the Government of Pakistan.
Key Features of the Housing Scheme
The Mera Ghar Mera Ashiana scheme comes with several attractive features to make homeownership a reality for more Pakistanis. It offers subsidized profit rates and has simplified its eligibility criteria, removing traditional barriers. Potential homeowners can seek financing for a variety of needs, including:
- The purchase of already constructed residential properties.
- The acquisition of plots intended for construction.
- Building a new home on land they already own.
All of this financing is structured through the Diminishing Musharakah model, a Shariah-compliant financing arrangement. The scheme is available through Faysal Bank's extensive nationwide branch network, promising to stimulate economic activity in the construction and related industries.
Leadership Commits to National Development
Expressing his views on this national initiative, Mr. Yousaf Hussain, President and CEO of Faysal Bank, stated, "We sincerely acknowledge the State Bank of Pakistan and the Government of Pakistan for their continued efforts in promoting inclusive housing finance." He added that the bank is honored to support this cause with Shariah-compliant solutions that help low-income families achieve the milestone of home ownership, reinforcing the bank's deep commitment to financial inclusion and long-term socio-economic progress.
This collaboration between SBP and participating banks like Faysal Bank stands as a testament to a unified effort to drive national development and make housing accessible to millions, marking a transformative journey toward greater financial empowerment across Pakistan.
