The consortium comprises Creditinfo Group, an Iceland-based credit information and information services group, Tasdeeq, an SBP-licensed credit bureau, Pakistan Credit Rating Agency (PACRA) and Analytics, artificial intelligence and big data analytics solutions provider. Naya Pakistan Housing Scheme was launched in 2019 to address this shortage. On the other hand, the formal financial sector has been failing to provide adequate and affordable housing finance to a large segment of the population, with housing finance at only 1.7% of total private sector credit in 2018. “The models are going to reside in credit bureaus and are going to be tweaked a little for other use cases,” Omar explains. We have credit reports and credit assessment models already,” says Omar.

Source: Pakistan Today October 27, 2021 14:15 UTC