Meezan Bank and Chapal Builders Enter into A Strategic Alliance for Providing Shariah-Compliant House Financing Solutions to Potential Customers

March 19th, 2021

Meezan Bank, the Best Bank in Pakistan has recently signed a Memorandum of Understanding with Chapal Builders & Developers, one of the oldest real estate builders and developers in Pakistan, to offer Shariah-compliant housing finance solutions for Chapal’s flagship residential project – Chapal Courtyard.

The MoU was signed by Mr. Arshad Majeed, Group Head Consumer Finance – Meezan Bank and Mr. Jawad Chapal, Director – Chapal Builders at the project’s site location, adjacent to Chapal Sun City near Safoora Chowk, Scheme 33, Karachi. The event was also attended by Mr. Ahmed Chapal, Director – Chapal Builders and Mr. Faisal Saifullah, Head Housing Finance – Meezan Bank.

Under this MoU, Meezan Bank will offer customised Shariah-compliant housing finance solutions to customers who intend to purchase apartments in Chapal Courtyard. Being the pioneer of Islamic Housing Finance in Pakistan, Meezan Easy Home product has been refined to enable all the segments of society to have easier access to this facility. Furthermore, in order to support the Prime Minister’s vision of providing low-cost housing facility for masses, Meezan Bank is continuously striving towards making financing more viable to the masses through specialized Shariah-compliant solutions for potential customers.

Commenting on the occasion, Mr. Arshad Majeed said “Meezan Bank is committed to expanding its product offering to make Shariah-compliant housing finance affordable and reachable to many Pakistanis through convenient and competitive banking solutions.”

Mr. Ahmed Chapal, while commenting on the occasion said “Chapal Courtyard is a one-of-its-kind residential project offering a state-of-the-art facility at a very attractive price, having covered area of up to 1,200 sq. ft. The project comprises of 300 elegantly designed apartments in a secured residential community with modern amenities and facilities, encompassing stand-by generator, green area, community centre, cafeteria, gym, library, mosque, etc. We are pleased and delighted to have Meezan Bank as our banking partner and thank them for designing a Shariah-compliant product catering specifically for our customers.”

mbl strategic alliance chapal builders

Mr. Arshad Majeed, Group Head Consumer Finance – Meezan Bank and Mr. Jawad Chapal, Director – Chapal Builders at the signing ceremony along with their respective teams.