Authorizations issued to 3 housing finance companies during fiscal year 21: SECP – Journal
KARACHI: The Securities and Exchange Commission of Pakistan (SECP) announced on Wednesday that it has issued licenses to three new housing finance companies (HFCs) in FY21, with the aim of revitalizing the sector.
The companies include Pakistan Housing Finance Company Limited, Trellis Housing Finance Company Limited and Asaan Ghar Finance Limited, SECP said in a statement, adding that HFCs could begin operations during the current year.
A revitalized HFC sector would help meet the huge demand for affordable housing finance in the country, the regulator added.
There had been no licensed HFCs for the past decade.
While being aware of the huge gap in affordable housing finance, SECP, together with the Pakistan Mortgage Refinance Company and the World Bank Group, has launched a massive awareness campaign to highlight the opportunities for them. potential new entrants.
The SECP also guides potential investors on the financing mechanism available to housing finance companies and helps them prepare viable HFC business models.
SECP also supports the proposal to include HFCs in the government’s Markup Subsidy Scheme for housing finance.
Meanwhile, former President of the Builders and Developers Association Hassan Bakhshi praised SECP’s decision to allow more companies in the HFC segment.
Posted in Dawn, July 8, 2021