The Securities and Exchange Commission of Pakistan (SECP) announced on Wednesday that three new Housing Finance Companies (HFCs) were granted licences in FY21, with the goal of revitalising the industry.
The firms include Pakistan Housing Finance Company Limited, Trellis Housing Finance Company Limited, and Asaan Ghar Finance Limited, according to the SECP. The HFCs are expected to begin operations this year.
The regulator noted that a revitalised HFC industry will help meet the country’s high demand for affordable home finance.
For the past decade, there have been no licenced HFCs on the market.