SECP’s awareness drive for promotion of Housing Finance Companies

Farrukh Sabzwari highlighted the significance of the housing finance sector, its overarching link with more than 40 ancillary industries and discussed the opportunities

KARACHI: As part of SECP’s initiative for promoting Housing Finance Companies (HFCs) in Pakistan, SECP organized a webinar in collaboration with Pakistan Mortgage Refinance Company (PMRC) and International Finance Corporation (IFC).

Speaking at the occasion, Farrukh Sabzwari, SECP Commissioner for Specialized Companies, highlighted the significance of the housing finance sector, its overarching link with more than 40 ancillary industries and discussed the opportunities presented by the underserved housing finance market for potential new players. He pinpointed major challenges being faced by this sector and emphasized upon SECP’s resolve to handhold the potential investors willing to form HFCs under the NBFC regulations.

Mudassir H. Khan, CEO PMRC, expressed his views highlighting the role of PMRC in developing the housing mortgage market. Mr. Charles Schneider, from IFC spoke about practices in the international jurisdictions and the existing opportunities in Pakistan. Speaking on the occasion, international expert on Housing from Malaysia, Mr. N.K. Rupan provided an analysis of the regional markets and highlighted the importance of HFCs in the growth of affordable housing. Present at the event, Mr. Hassan Daud Butt, CEO of KPK Board of Investment highlighted that KPK possesses a lot of potential for the housing market and can offer great opportunities for new entrants. Other prominent speakers included Mr. Zaigham Rizvi, Chairman of the Naya Pakistan Housing Task Force and Dr. Amjad Saqib, CEO of the Akhuwat.