Finance ministry to establish Pakistan Housing Bank
KARACHI: Amidst the growing housing finance market in the country, the ministry of finance is going to establish ‘Pakistan Housing Bank’ – a regulatory authority to regulate the growing housing finance market.
Currently, the State Bank of Pakistan (SBP) regulates the housing finance market of the country however, after the establishment of a new body various private entities will also be authorised for housing finance.
As per the member of the Economic Advisory Council (EAC), the objective is to devolve the housing finance and bring the housing finance out of the commercial banks.
Earlier, the Security Exchange Commission of Pakistan (SECP) issued licenses to three private housing finance entities which are likely to start their operations in the coming days.