{"id":45580,"date":"2018-12-13T16:07:03","date_gmt":"2018-12-13T11:07:03","guid":{"rendered":"https:\/\/www.zameen.com\/blog\/?p=45580"},"modified":"2018-12-17T12:56:02","modified_gmt":"2018-12-17T07:56:02","slug":"sbp-wants-islamic-banks-to-help-govt-with-nphp","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/sbp-wants-islamic-banks-to-help-govt-with-nphp.html","title":{"rendered":"SBP wants Islamic banks to help govt with NPHP"},"content":{"rendered":"<p>Karachi: The State Bank (SBP) has asked Islamic financial institutions to assist the government in its bid to construct five million low-cost residential units at an estimated cost of PKR 17 trillion, a news source reported. Such a collaboration would help the Islamic banking industry address a major challenge of finding Shariah-compliant products for investing excess liquidity.<\/p>\n<p><strong>Read<\/strong>:\u00a0<a href=\"https:\/\/www.zameen.com\/news\/47230-kanals-identified-for-nphp.html\">47,230 kanals identified for NPHP<\/a><\/p>\n<p>SBP Governor Tariq Bajwa said the government would require approximately PKR 15 trillion to PKR 17 trillion for the construction of low-cost affordable units under its Naya Pakistan Housing Programme.<\/p>\n<p>He said the amount was huge and the most viable option to achieve the task was to tap into Musharakah, a form of Islamic financing where a joint enterprise or partnership is formed and partners share profit and loss.<\/p>\n<p><strong>Read<\/strong>: <a href=\"https:\/\/www.zameen.com\/news\/over-285000-nphp-forms-digitised.html\">Over 285,000 NPHP forms digitised<\/a><\/p>\n<p>The government is also in talks with other financial institutions to provide <a href=\"https:\/\/www.zameen.com\/news\/interest-free-loans-for-nphp-hopefuls.html\">interest-free loans<\/a> for the housing programme. The houses will be offered on a 20-year payment plan where the monthly instalments will be as high as PKR 18,564. The applicants will be required to pay 20% of the total amount as a down payment. Those who own a piece of land will be able to get a bank loan of PKR 600,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Karachi: The State Bank (SBP) has asked Islamic financial institutions to assist the government in its bid to construct five million low-cost residential units at an estimated cost of PKR 17 trillion, a news source reported. Such a collaboration would help the Islamic banking industry address a major challenge of finding Shariah-compliant products for investing excess liquidity. Read:\u00a047,230 kanals identified for NPHP SBP Governor Tariq Bajwa said the government would require approximately PKR 15 trillion to PKR 17 trillion for the construction of low-cost affordable units under its Naya Pakistan Housing Programme. He said the amount was huge and the most viable option to achieve the task was to tap into Musharakah, a form of Islamic financing where a joint enterprise or partnership is formed and partners share profit and loss. Read: Over 285,000 NPHP forms digitised The government is also in talks with other financial institutions to provide interest-free loans for the housing programme. The houses will be offered on a 20-year payment plan where the monthly instalments will be as high as PKR 18,564. The applicants will be required to pay 20% of the total amount as a down payment. Those who own a piece of land will&hellip;<\/p>\n","protected":false},"author":67,"featured_media":42998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[9348],"persona":[],"class_list":{"0":"post-45580","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"tag-sbp-wants-islamic-banks-to-help-govt-with-nphp"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SBP wants Islamic banks to help govt with NPHP - Zameen News<\/title>\n<meta name=\"description\" content=\"Karachi: The State Bank (SBP) has asked Islamic financial institutions to assist the government in its bid to construct five million low-cost residential\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/sbp-wants-islamic-banks-to-help-govt-with-nphp.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SBP wants Islamic banks to help govt with NPHP - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Karachi: The State Bank (SBP) has asked Islamic financial institutions to assist the government in its bid to construct five million low-cost residential\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/sbp-wants-islamic-banks-to-help-govt-with-nphp.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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