1. Pakistan and the Application of Mortgage Law
... is one of the prime economic stimulants as its percentage to Gross Domestic Product (GDP) exceeds about 60%, while in most developing countries, the housing loans to GDP ratios is near to 20%. In South Asia, India's ratio stands at about 9% but Pakistan's ratio of less than 1% is astoundingly far behind comparative economies. For the first time in history, more ... The Financial Institutions Ordinance 2001, Sections 15(2)1 and 19(3)2, allow foreclosure and registration of mortgage property by the financial institutions without resorting to the court. However, implementation of this law...
- Word Count: 6021
- Approx Pages: 24
- Grade Level: High School