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The State Bank of Pakistan announced that borrowers availing consumer finance (auto, housing, personal loans, credit card) and those who were regular on their payments till December 31, 2019 can request banks to defer the principal amount for one year without any fee or increase in markups.
They will continue to serve the mark-up amount.
In a tweet, SBP added that all borrowers who were unable to service the mark-up amount of need deferment exceeding one year, can request the bank to reschedule/restructure their facilities.
Read the full statement here.
