MBSB Bank Bhd is processing up to RM6 billion in loans for affordable housing.
President and CEO of Malaysia’s second largest full-fledged Islamic banking by asset size Datuk Seri Ahmad Zaini Othman revealed that the applications included loans for the 1Malaysia People’s Housing Programme (PR1MA), 1Malaysia Civil Servants Housing Programme (PPA1M) and Federal Territories Affordable Housing (Rumawip), Bernama reported today.
"We expect to disburse all the loans this year," said Ahmad Zaini.
He was talking to the media after signing the Mortgage Guarantee Programme and Participation in My First Home Scheme with Cagamas SRP Bhd here today.
Ahmad Zaini said since the start of the loans programme for affordable housing, MBSB Bank had disbursed RM4.5 billion in loans for affordable homes comprising about RM2 billion for PPA1M, RM1.6 billion for PR1MA and about RM900 million for Rumawip, reported Bernama.
As for working with Cagamas SRP, he said MBSB Bank would obtain guarantee coverage from Cagamas SRP for its home financing portfolio to facilitate efficient capital management.
