October 5th, 2012
Meezan Bank and Pak Gulf Construction (Pvt) Ltd (PGCL) promoter and developer of The Centaurus, iconic mixed use real estate project in Islamabad signed an MoU under which Meezan Bank will provide Islamic Home Finance for existing and new buyers of The Centaurus Residential apartments.
Head of Consumer Banking at Meezan Bank, Mr. Muhammad Raza, termed The Centaurus as a revolutionary project in the Real Estate industry of Pakistan. He mentioned that Meezan Bank is Pakistan’s leading Islamic commercial bank. The Bank has been recognized as the best Islamic Bank in Pakistan by various local and international institutions over the past several years. The Bank offers a complete range of Islamic banking products and services through a retail banking network of 301 branches in 89 cities, supported by 24/7 banking services that include over 200 ATMs, Internet Banking and a 24-hour Call Center.
The CEO of PGCL Mr. Sardar Tanvir Ilyas Khan said ‘ We feel very proud that Centaurus and Meezan Bank have joined hands to facilitate the existing and future customers of Centaurus residencia. We strongly believe that these two institutions will go a long way together and will form more such collaborations in future. Meezan Bank is a premier Islamic bank and we feel privileged to be their partner in this endeavor. PGCL is committed to investment in Pakistan and shall undertake more projects in future.”
Both the signatories termed this agreement as a milestone in Islamic Home Finance.