NBP to provide very soft loans under PM Housing Scheme :NBP President Aug 15, 2020

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NBP to provide very soft loans under PM Housing Scheme :NBP President Aug 15, 2020

ISLAMABAD- National Bank of Pakistan’s President Arif Usmani on Friday said

his bank will provide all possible support for the uplift of thegeneral public including provision of very soft loan to make them ableto easily own residence under the Prime Minister’s Housing Scheme.

        The PM Housing initiative was very revolutionary programme as

it would improve the living standard of the common man and to generatebig economic activity in the country. The construction industry hasgreat potential to grow and more than 40 other industries directlylinked to it, he said while speaking at a ceremony held here at NBPHead  Office to mark 73rd independence day of our beloved country,

Pakistan.

     He said PM Housing Programme would help revive the economyaffected by COVID-19, which had posed serious economic challenges tomany countries. Prime Minister Imran Khan was personally monitoringthe progress in this housing programme and was regularly gettingfeedback from the concerned organizations /agencies including NBP.

     NBP President said this premier government commercial bank had recently gone through various policy, structural and technologyupgrades which would start yielding within six months.

     He said Coronavirus had affected every sector and everorganization , however with their professional commitment and highnational spirit NBP employees served the national in the best possibleway. And, special allowance will be announced for the top performers,he said.

     He urged the bank employees to continue working will allsincerity and professionalism to earn big name for their organizationand for themselves , and for their best contribution towards the country’s prosperity.

       The President said since its inception, NBP had been playing apivotal role in the development of the country. The bank primarilyestablished for jute financing , now has a prominent role in every sector of the economy. Serving the nation with more than 1500 branches, NBP was catering to every aspect of banking including

Islamic banking, corporate banking, trade finance, agriculture, SMEs and retail, treasury and home remittances.

“ We proudly discharge our responsibility of functioning as government treasury and have the largest rural network in banking industry,” he said adding NBP had taken a lead role in government initiated lending and goodwill programs like PM Youth Entrepreneurship Scheme and now PM Housing Scheme.

    He said manage the foreign exchange need of the country, NBP had taken initiatives for promoting remittances through legal channel that included collaboration with Pakistan Post which created the largest remittance payment network in the country with over 2000 payment  locations. Besides, he said, customized products in

collaboration with Bureau of Emigration and Overseas Employment had been launched to provide banking facilities to intending emigrant

workers. As a result, NBP’s market share in remittance business along with remittances volume had considerably increased  in last two years.

       He said significant population of the country was below the poverty line and  promoting SMEs would be greatly help address this situation. Government of Pakistan was making all out efforts to address these economic challenges and NBP was committed to deliver on the national agenda of inclusive development.

       Arif Usmani said due to its best performance, NBP had got twoprestigious awards this year.

      He said  the global regulatory environment poses lot of challenges to the banking sector and the Pakistan economy in general.

NBP had taken various measures to meet certain FATF compliance requirements.

        NBP Spokesman said National Bank of Pakistan by organizing independence day ceremonies at its offices/branches throughout the country had sent a message to the nation to show high spirit and celebrate this great day with their renewed commitment to secure the homeland from all evil forces and make the country strong and

prosperous.

On this occasion, NBP President along with his team hoisted national flag on the  NBP Building.