Wazir-E-Azam Apna Ghar Program
Subsidized Islamic Housing Finance Scheme
In an effort to make housing more accessible and affordable, the Government of Pakistan has launched the “Mera Ghar – Mera Ashiana (MGMA)” scheme, offering profit subsidy to support first-time home owners.
BankIslami extends this facility through Muskun Home Financing, enabling individuals to construct or purchase their dream homes with ease, convenience, and complete Shariah compliance under the Diminishing Musharakah structure
Wazir-E-Azam Apna Ghar Program Parameters:
| Parameters | خصوصیات | |
| Eligibility Criteria | · Pakistani CNIC holding citizens · First time homeowners · Not owning any housing unit in their name |
|
| Scope |
· Purchase of house/flat · Construction of house on already owned plot · Purchase of plot and construction of house |
|
| Size of Housing Unit |
· House of up to 10 Marla / 2720 sq. ft. · Flat/Apartment of up to 1500 sq. ft. area |
|
| Maximum Financing Amount | Up to PKR 10 Million | |
| Maximum Financing Tenor | 20 years (subsidy for 10 years) | |
| Age |
· Salaried: 25 – 60 Years · SEP/ Businessmen: 25 – 65 Years |
|
| Bank Pricing for Subsidy | Bank will claim subsidy amount being the differential of Customer pricing and prevailing 1 Year KIBOR + 3%. | |
| Customer pricing (Initial 10 Years) | Flat 5% | |
| Customer pricing (After 10 to 20 Years) | One Year KIBOR + 3% | |
| Processing Fee | Nil | |
| Early Termination Charges | Nil | |
| Minimum حصہ from the customer | Minimum 10% | |
| Risk Coverage | 10% of the outstanding portfolio under the scheme on first loss basis | |
| Financing Cities | Whole of Pakistan | |
| ماہانہ آمدن | No Upper and Lower limits on the income requirement. | |
| Disbursement Tranche | Disbursement for Construction purpose will be in two tranches (in addition to the Construction as applicable) i.e.
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BankIslami
Registered / Head Office
11th Floor, Executive Tower, Dolmen City, Marine Drive, Block-4, Clifton, Karachi.
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