January 2, 2003	Thursday	Shawwal 28, 1423

KARACHI, Jan 1: A memorandum of understanding (MoU) for consumer financing of home appliances was signed by the PICIC Commercial Bank with the Samsung Electronics.

The MoU was signed by Muhammad Bilal Shaikh, President and Chief Executive Officer of PICIC Commercial Bank and Mohammad Rafiq Parsa, CEO of Samsung Electronics.

Loans up to Rs100,000 would be extended under the financing scheme launched with immediate effect and it will initially be for Karachi but would later be extended to Lahore and Islamabad.—APP