Islamic Financing

The Customer and the PHFC shall contribute their shares for joint ownership of the Asset.

• The customer can contribute in the form of piece of land on which the property shall be constructed (plot) or he can contribute in the form of plot plus certain cash
• PHFC shall contribute construction finance amount, towards formation of the musharakah.

The Customer, with the Construction Finance amount received in pre-agreed tranches from PHFC in line with progression of the construction work.

SECP’s requirements and pre-defined Financing Policy of the PHFC.

Financing will be done in 3 tranches subject to provision of Bill of Quantity (BOQ).

The Customer shall be appointed as managing co-applicant/owner to construct the building according to the plan; and shall undertake to complete the construction with in a pre-agreed time frame and the agreed funds.