IslamicFinance.de

Escorts Investment Bank Limited (EIBL) is planning to launch Islamic housing finance. Malik Riaz, the Pakistani business tycoon owns EIBL. The new financing is expected to help in the business of the parent project of EIBL, Bahria Town. Bahria Town recently announced a cheap housing scheme in different cities for both Pakistani residents and expatriates. The scheme would appeal to customers towards the housing project as well as the bank. Shariah-compliant housing finance and micro-financing products are to be issued by EIBL besides the earlier offered interest-based products.