Chapal Builders & Developers, one of Pakistan’s oldest real estate builders and developers, recently signed a Memorandum of Understanding with Meezan Bank, Pakistan’s best bank, to provide Shariah-compliant housing finance solutions for Chapal’s flagship residential project, Chapal Courtyard.
The MoU was signed at the project’s site spot, adjacent to Chapal Sun City near Safoora Chowk, Scheme 33, Karachi, by Arshad Majeed, Group Head Consumer Finance – Meezan Bank and Jawad Chapal, Director – Chapal Builders. Ahmed Chapal, Director of Chapal Builders, and Faisal Saifullah, Head of Housing Finance at Meezan Bank, were also present at the gathering.
Meezan Bank will provide customised Shariah-compliant housing finance solutions to customers who wish to buy apartments in Chapal Courtyard under the terms of this agreement. Meezan Easy Home, as Pakistan’s first Islamic housing finance product, has been refined to make this facility more available to all segments of society.
“Meezan Bank is committed to expanding its product offering to make Shariah-compliant housing finance affordable and available to many Pakistanis through convenient and competitive banking solutions,” said Arshad Majeed.
“Chapal Courtyard is a one-of-a-kind residential project offering a state-of-the-art facility at a very attractive price, with covered area of upto 1,200 sq. ft.,” Ahmed Chapal said on the occasion. We are thrilled to have Meezan Bank as a banking partner, and we appreciate them developing a Shariah-compliant product tailored to our customers.”