Banks in the Maldives and Pension Office of the Maldives has signed an agreement to provide housing loans for members of the Maldives Retirement Pension Scheme.
Pension office said that they have started making agreements with financial institutions that provide housing loans. They have signed agreements with Islamic Bank, Housing Development Finance Corporation and Bank of Maldives.
With the agreement, the money in the pension fund can be used as down payment for housing loans. Pension office said that right now MIB, BML HDFC is providing this service. They said that in future, similar agreements will be made with other institutions as well.
Banks sign agreement with Pension office to provide housing loans
