Zaigham's Archival Materials - Advisory Center for Affordable Settlements & Housing

Zaigham Mahmood Rizvi

Zaigham .M. Rizvi is the Chairman and Founder of Mutual Fund Association of Pakistan and Vice Chairman of Pakistan Banks Association.

Expert Consultant Housing and Housing Finance

Zaigham Mehmood Rizvi is a Pakistani entrepreneur, technology expert, and public speaker. He is the founder and CEO of the technology company Kwick High-Tech & Solutions, which provides software development, cybersecurity, and other technology-related services to clients worldwide.

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EDUCATION

M.B.A. (Oklahoma State University, USA - 1977)
M.A. Economics (Punjab University, Lahore, Pakistan - 1973) 1st Division
(Specialized in the subject of Agricultural Economics with distinction) Gold Medal
M.Sc. Engineering (Engineering University, Lahore, Pakistan - 1970) 1st Division
B.Sc. Engineering (Engineering University, Lahore, Pakistan - 1969) 1st Division

CERTIFICATIONS

Diploma, Institute of Bankers Pakistan (Gold Medal)
Associate Institute of Chartered Secretaries of Pakistan (ACIS)
Associate Development Bank Management by (ADFIAP-Manila)
Certified Director” after having qualified “Director Education Program” of Pakistan Institute of Corporate Governance (PICG)

Skills SUMMARY

PROFESSIONAL SUMMARY

Expert Consultant on Housing and Housing Finance: Serve multilateral agencies on various assignments including World Bank, IFC, UN-ESCAP, UN HABITAT, DFID, CMHC-Canada etc.

Served as Chief Executive of three Development Finance Institutions in Pakistan

Pak-Libya Investment Co. (PLHC), Pak-Kuwait Investment Co. (PKIC) and House Building Finance Corporation (HBFC). Served as Senior Executive of Saudi-Pak Investment Co. (SAPICO).

Have global experience with exposure

of more than 20 countries of Asia-Pacific, MENA and African region under various assignments in the area of Affordable Housing, Social Housing, Housing Microfinance, covering challenges of Supply-Side, Finance-Side, and Regulatory Regimes

Well-versed in the cultural nuances, working environment, business modalities, and socio-economic aspects of countries in Asia-Pacific and MENA Region;

Contributes articles to Housing Finance International (HFI) on housing developments in Asia-Pacific Region. HFI is a quarterly journal of International Union of Housing Finance (IUHF).

Served as Team Lead on Working Group for Low-Income Affordable Housing Policy and Program “Apna Ghar” Program of the Government of Pakistan;

Architect of PTI Housing Policy and Program “Naya Pakistan Housing Program

aiming at building affordable housing units, covering Urban, Peri-Urban and Rural Housing. Also serving as Chairman Prime Minister’s Housing Task Force for development of policy support measures on Supply-Side and Demand-Side of Affordable Housing under the program.

Served as Honorary Adviser to Ministry of Science & Technology, Govt of Pakistan.

Played a key role in establishment and operations of Oman Development Bank (ODB), Muscat Oman, which was instrumental in initiating industrialization of Sultanate of Oman.

Successful turnarounds of three financial institutions in Pakistan and one in Middle East:

Played a key role in promoting and establishment of Islamic financial institutions in Pakistan. That includes a Commercial Bank, Investment Bank, Asset Management, and Islamic Insurance (Takaful):

Played a key role in establishment of Pakistan’s Premier Islamic Bank, the Meezan Bank Ltd, now the leading Islamic bank of the country.

Pioneering role in establishment of Pakistan’s first Islamic Asset Management Co. the Al-Meezan Investment Co. and also first Islamic Insurance (Takaful Pakistan)

Played a pioneering role in establishment and promotion of Mutual Finds Industry in Pakistan, including launching of Sharia-Compliant Mutual Funds (Open–End and Closed-End). Have served as Founder Chairman of Mutual Funds Association of Pakistan (MUFAP), and served as a member of International Investment Funds Association (IIFA);

Advocacy for alleviation of Energy Poverty

in low-income segments of population, and project promotion in the fiend of Alternate Energy options, mainly Solar Energy.

Social Service: Serving Persons with Disabilities (PwDs) for last 40 years.

Have been actively engaged in service of PwDs for more than three decades. Primary focus is on Hearing Impaired/Deaf and Visually Impaired/Blind Persons. Founder and patron of various social services organizations serving Persons with Disabilities. Authored State Policy for Persons with Disabilities for PTI Government in Pakistan. Actively working with the Government for design and implementation of various initiatives to serve the cause of PwDs.

Architect of Low-Income Affordable Housing Policy and Program for the Pakistan Govt. in 2018-2019

The program aims at delivering affordable housing units, under Urban, Peri-Urban and Rural Housing Agenda. Made professional contribution in preparation of Supply-Side Incentives including fiscal and regulatory incentives to construction industry, Demand/Finance-Side Incentives to ensure concessional housing finance and financial inclusion etc. Also played a lead role in preparation of document for establishment of Real Estate Regulatory Authority (RERA).

Mortgage Refinance Institutions:

Served on the Board of Directors of Egyptian Mortgage Refinance Company (EMRC), Palestine Mortgage and Housing Corporations (PMHC) as IFC Nominee Director. Served as Expert Consultant to the World Bank as team member carrying out feasibility study of Pakistan Mortgage Refinance Company (PMRC);

Mortgage Refinance Institutions:

Advocacy for environment friendly renewable

energy and promoting awareness for, “Green Housing”, “Carbon Footprint” and Clean Development Mechanism in Pakistan.

Around fifty years of professional experience

in various fields including housing finance, development banking, industry and academia. This includes around thirty years’ experience in the financial sector of Pakistan, eight years at a development finance institution in the Sultanate of Oman, and about 10 years with multilateral agencies mainly the World Bank Group, UNHABITAT etc

Long Term Liquidity and market-based instruments:

Played active role in promoting long-term liquidity instruments like Mortgage-Backed Bonds/Sukuks and REITs. Was associated in launching of Pakistan’s first Mortgage Backed Sukuk (MBS) of Rs One Billion for HBFC-Pakistan, and Pakistan’s first listed Islamic-REIT, a commercial REIT to provide long-term funds for Dolmen Mall;

Founding Chairman of National Platform for Housing Research (NPHR): With membership of 28 universities in Pakistan,

the NPHR is promoting research on construction industry and is facilitating liaison in research areas between the Academia and the Construction Industry.

Zaigham has published many articles/papers and made contribution to field research projects primarily in the area of Pro-Poor Affordable Housing, Housing Finance and Alternate Energy options for low-income segments of the population.

Working on programs for water conservation, water recycling and rain water harvesting in development of housing and habitat.

PROFESSIONAL SUMMARY

Housing and Housing Finance:

Advisor

Served as GCC Advisor on Housing Policy and Finance to Affordable Housing Institute (AHI) of USA for an assignment in ME.

+Expert Consultant on Housing and Housing Finance: World Bank, IFC, UN-ESCAP, UN-HABITAT, CMHC of Canada, and ShoreBank Int’l USA.

Zaigham, under various assignments, has internationally applied his extensive background in Housing and Housing Finance, Low-Income Affordable Housing, Development Banking, and Islamic Banking, including the application of Sharia-Compatible models.

These assignments were carried out in a wide geographical spread in:

MENA Region:

Oman, Egypt, Palestine, Saudi Arabia

Pakistan:

--Affordable Housing Program of Govt. of Pakistan: Zaigham is and remained actively engaged in facilitation of affordable housing development and finance for Rural, Peri-urban, and Rural Housing in Pakistan.

--Served as Advisor on Infrastructure and Housing to State Bank of Pakistan (the Central Bank)

--Authored housing policy and program for different Governments, covering Supply-Side, Finance-Side, Regulatory Policies & Regimes, Housing & Mortgage Insurance etc.

Afghanistan

Under various assignments, have been involved in low-income housing, housing microfinance particularly rural housing finance, review of regulatory regimes, sharia-compatible housing finance, and role of institutional housing finance to prepare a comprehensive overview of housing finance and housing supply and to suggest business models for way-forward. For an assignment with First Micro-Finance Bank of Afghanistan (FMFB-A), had developed and successfully piloted Rural Microhousing Finance Product in Afghanistan

Bangladesh

In Bangladesh, working for the World Bank as Expert Consultant in Housing and Housing Finance, have conducted a Diagnostic Study and Restructuring Study of Bangladesh House Building Finance Corporation. Under another study have carried out an overall assessment of housing sector of Bangladesh, its issues and possible answers. As Secretary General of Asia-Pacific Union for Housing Finance (APUHF), am constantly in contact with the main stakeholders of housing in Bangladesh, including Bangladesh House Building Finance Corporation (BHBFC), Developers Association (REHAB), and financial institutions involved in housing finance like Islamic Bank Bangladesh.

PROFESSIONAL EXPERIENCE

Housing & Housing Finance: World Bank Group, USA January 2008 onwards

Consaltant

Served as IFC’s Nominee Director on the Board of Palestinian Mortgage & Housing Corporation (PMHC), Palestine and Egypt Mortgage Refinance Company (EMRC), Egypt. In Palestine, was involved in the World Bank’s Technical Assistance Program for design and execution of a large scale Affordable Housing Initiative.

In 2008, working as STC for the World bank, prepared a Report on Housing Finance in South Asia Region, covering Afghanistan, Pakistan, India, Bangladesh, and Sri Lanka. The report served as background information and research material for the World Bank publication “Expanding Housing Finance to the Underserved in South Asia’ authored by Ms. Tatiana Nenova (August 2010). Also involved in drafting and review of the publication.

In 2023 under a World bank assignment, have prepared housing sector review study on Bangladesh, Indonesia, Thailand, Nepal, Vietnam and Sri-Lanka.

Worked for the World Bank on an assignment to prepare a comprehensive study on East-Asia Housing Finance Scenario and comparative housing regulatory regimes.

Member of the team which conducted a feasibility study on Pakistan Mortgage Refinance Company (PMRC) for the World Bank.

In 2016, served as Team Member on two different Low-Income Housing Studies in Pakistan, where clients were State Bank of Pakistan (the central bank) and Asian Development Bank.

Happy Clients

Experience Years

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Awards Won

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Support

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Conducted a diagnostic study of the Bangladesh House Building Finance Corporation (BHBFC) with the aim of developing a possible reform and rehabilitation program for BHBFC. Under another study have carried out an overall assessment of housing sector of Bangladesh, its issues and possible answers.

Served as IFC’s Nominee Director on the Board of Palestinian Mortgage & Housing Corporation (PMHC), Palestine and Egypt Mortgage Refinance Company (EMRC), Egypt. In Palestine, was involved in the World Bank’s Technical Assistance Program for design and execution of a large scale Affordable Housing Initiative.

In 2016, served as Team Member on two different Low-Income Housing Studies in Pakistan, where clients were State Bank of Pakistan (the central bank) and Asian Development Bank.

Prepared a Report on Housing Finance in South Asia Region, covering Afghanistan, Pakistan, India, Bangladesh, and Sri Lanka. The report served as background information and research material for the World Bank publication “Expanding Housing Finance to the Underserved in South Asia’ authored by Ms. Tatiana Nenova (August 2010). Also involved in drafting and review of the publication.

Member of the team which conducted a study for Pakistan Mortgage Refinance Company (PMRC).

Worked for the World Bank on an assignment to prepare a comprehensive study on East-Asia Housing Finance Scenario and housing regulatory regimes.

UN-ESCAP/UN-HABITAT 2008

Consultant

Worked on UNESCAP’s sponsored project on “Pro-Poor Housing Finance in Asia and Pacific - a compendium of seven countries.”
Senior Housing Advisor – Shore Bank Int’l, USA (now Enclude-USA) 2011-2013

Senior Housing Advisor – ShoreBank Int’l, USA (now Enclude-USA)

Shelter Afrique, Africa:

Worked as Team Lead with ShoreBank International USA, on an assignment to develop the Social/Microhousing Housing Program in Africa with a focus on seven select countries including Kenya, Uganda, Zambia, Botswana, Malawi, Ghana and Senegal. It was a comprehensive assignment, covering all aspects of Social Housing Supply, Social Housing Finance, Regulatory Aspects and Policy recommendations.

First Micro-Finance Bank, Afghanistan:

The assignment covered design and development of a Business Model of Rural Housing Micro Finance and Product Line for First Micro Finance Bank (FMFB), Afghanistan.

Afghanistan Housing Study:

Worked in Afghanistan for Shore Bank Int’l on an IFC assignment to prepare a comprehensive study on housing demand, supply and regulatory aspects with a set of comprehensive recommendations and way-forward.
Canada Mortgage and Housing Corporation-CMHC

Canada Mortgage and Housing Corporation-CMHC

Served as Team Member of CMHC providing advisory services on housing to a Govt. entity in Saudi Arabia.

Advisor - State Bank of Pakistan (SBP), Pakistan 2008 - 2013

Served as Honorary Adviser to State Bank of Pakistan (the central bank) on Infrastructure and Housing. The position involves advising SBP in its programs for promotion and regulation of housing, real estate and infrastructure in Pakistan.

Advisor - State Bank of Pakistan (SBP), Pakistan 2008 - 2013

Honorary Adviser

Managing Director/Chairman - House Building Finance Corporation (HBFC), Pakistan

Pakistan 2005 - 2007

Chairman & MD

Served as Chairman and MD of HBFC. Initiated Pakistan’s first “Small and Medium Housing (SMH)” finance program targeting low and middle-income groups.

Strategic Loan Recovery Initiatives

Recovered large amounts of default loans and transformed a massive non-performing loan portfolio into performing assets through aggressive loan recovery programs. The NPLs Ratio improved from 67% to 37 % during the period.

Remarkable Journey

HBFC experienced a complete turnaround from an ailing financial institution to a proactive, socially responsible and commercially viable housing finance entity during three-year tenor.

Organizational Excellence

Implemented a comprehensive reforms program covering human resource development, preparation of systems and manuals, computerized the loan origination process, etc. HBFC attained ISO 9001-2000 Certification under his tenure.

Elevating Market Perception

Enhanced market image through improved customer service.

International Support

Elicited International Finance Corporation’s (IFC) technical support for development of long-term Business Plan, and Capacity Building Program.

Breaking New Groun

Introduced and launched country’s first Securitization of Mortgage-Backed Debt Obligation-MBS (Sukuk or Islamic Bonds).

Innovative Real Estate Investment

Also introduced the concept of Pakistan’s first Sharia-compatible REIT (i-REIT).

Pioneering Social Housing Initiatives

Instituted a plan for setting up a Social Housing Company to specialize in the development of housing for the low and middle-income groups and a Social Housing Bank to focus on micro-housing finance.

Managing Director - Pak-Kuwait Investment Company, Pakistan

2001 - 2004

CEO

Serving as CEO at this Joint-Venture Development Finance Institution between Governments of Pakistan & Kuwait, increased balance-sheet size, profitability, and shareholders’ equity to unprecedented levels.

Attained “AAA” credit rating by two rating agencies, Corporate Governance Rating of CGR-9 (on a scale of 10) as well as ISO Certification, making Pak-Kuwait the first financial sector institution in Pakistan with these honors

Company was also awarded ADFIAP’s ‘Corporate Governance Award’ for its initiative and pro-active compliance of Corporate Governance Standards.

Managing Director - Pak-Libya Holding Company,

1996 - 2001

CEO

Serving as CEO at this Joint-Venture development finance institution (DFI) between the Governments of Pakistan & Libya, increased the balance-sheet size, profitability, and shareholders’ equity.

Improved credit rating from “A” to “AA” and secured ISO Certification.

Improved market standing and perception.

Senior Executive Vice President - Saudi-Pak Industrial & Agricultural Investment Company,

Pakistan 1986 - 1996

CEO

At this Joint-Venture development finance institution between the Governments of Pakistan & Saudi Arabia, served in all functional areas, namely Merchant Banking, Development Banking, Project Financing, Monitoring, Administration, and Corporate Affairs.

Actively coordinated with Saudi Government to set up industries with an export potential from Pakistan to Saudi Arabia

Manager Projects - Oman Development Bank, Oman (a DFI)

1979 - 1986

CEO

Served as a member of the Bank’s start-up team and Head of the Projects Dept.

Worked with the Ministries of Industry and Commerce to identify industrial projects for diversifying Oman’s economic base from oil to non-oil industrial sectors.

Most of the industrial projects set up during the given period are now the well-established and some are listed in the Muscat’s Securities Market.

Senior Officer - Industrial Development Bank, Pakistan (a DFI)

1977 - 1979

Involved in the troubleshooting of sick industrial projects and sectors.

Operations Engineer - Dawood Hercules Chemicals Limited, Pakistan

1970 - 1975

As Chemical Engineer in operations of the Fertilizer Plant.

DIRECTORSHIPS

Served as Director on the Boards of Islamabad Stock Exchange, the Karachi Stock Exchange and the National Commodities Exchange of Pakistan.
Founder/Director on the Boards of Meezan Bank Ltd Pakistan, the premier Islamic bank in Pakistan,
Al-Meezan Investment Co. (an asset management company)
Takaful Pakistan Ltd. (Islamic Insurance company).
Director on the Board of Dubai Islamic Bank of Pakistan as an Independent Director.
Nominee Director on the Boards of various corporate entities in financial and manufacturing sector.
Board of Egyptian Mortgage Refinance Company (EMRC) (Nominee of IFC).
Board of Palestine Mortgage and Housing Corporations (PMHC) (Nominee of IFC).
Director Board of Governors at Virtual University, Pakistan
Director Board at agricultural development bank of Pakistan-ZTBL.
Director at Akhuwat Housing Finance Company (AHFC), with a focus of low and lower-middle income housing finance.

HONORS, AWARDS AND RECOGNITIONS

Outstanding CEO Award

Honored with the “Outstanding CEO Award” from Association of Development Finance Institutions in Asia-Pacific (ADFIAP) in 2004

IT Pioneer Award

Honored with the ‘IT Pioneer Award’ from National Cash Register (NCR), Pakistan.

Founder and Ex-Chairman

Founder and Ex-Chairman of Mutual Funds Association of Pakistan (www.mufap.com).

Fulbright Scholar

Fulbright Scholar – USA (1975-77).

Vice Chairman

Vice Chairman of Association of Development Finance Institutions in Asia and Pacific (ADFIAP) representing nearly 100 financial institutions from 35 countries of Asia-Pacific region.

Founder and Ex-Chairman

Founder and Ex-Chairman of Association of Mortgage Bankers of Pakistan.

SOCIAL SERVICES

Advisory Member

Member advisory boards of digital platform serving deaf person (ConnectHear) on on-line sign-language interpretation,

Empowering Education

Digital Platform to develop inclusive braille documents for education of Blind (Boltey Haroof)

Pioneering Inclusion

Author of Govt Policy for Persons with Disabilities.

Secretary General APUHF

Asia PacificUnion for Housing Finance https://apuhf.info

Founder and Chairman of Sir Syed Deaf Association

Founder and Chairman of Sir Syed Deaf Association, Pakistan, a non-profit organization serving hearing-impaired people (www.sda.com.pk).

Dedicated Advocate: Supporting Deaf Communities Across Pakistan

Chief Patron of Pakistan Association of the Deaf (www.padeaf.org)

Dedicated Engagement

Organizes various events to promote the cause of PwDs.

ACADEMICS

Visiting Faculty, Department of Business Administration, Quaid-e-Azam University, Islamabad, Pakistan.

Visiting Faculty, Institute of Business Administration (IBA), Karachi, Pakistan.

Visiting Faculty, National Institute of Banking and Finance, Islamabad, Pakistan.

Research Assistant, Department of Business Administration, Oklahoma State University, USA.

Regularly invited to speak at various training courses, workshops, and seminars in banking, finance, and economics.

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Arabic

100%

Urdu/Hindi

100%

English

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Barriers to Affordable Housing in Pakistan and How to Overcome Them

Affordable Housing Policies in Pakistan: Current State and Future Prospects

What is Social Housing? Understanding the Basics and Its Importance

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Recent Articles

I have compiled an extensive collection of housing research studies that encompass a wide range of topics and explore various aspects of the field. This comprehensive compilation includes a diverse array of research papers, articles, and reports that shed light on critical issues related to housing, offering valuable insights into the current state and future trends of this important sector.

Publish Date	Title	Author	Document
19/06/2009	AFGHANISTAN: HOUSING AND HOUSING FINANCE	Zaigham Mahmood Rizvi	Download
06/10/2013	ASIA PASIFIC – SLUMS & URBAN CONGESTION	Zaigham Mahmood Rizvi	Download
08/06/2012	THAILAND: COUNTRY REPORT	Zaigham Mahmood Rizvi	Download
20/09/2012	KOREA: COUNTRY REPORT	Zaigham Mahmood Rizvi	Download
15/06/2012	HOUSING FINANCE IN URBAN INDONESIA	Zaigham Mahmood Rizvi	Download
19/06/2009	EGYPTIAN MORTGAGE REFINANCE CO. (EMRC)	Zaigham Mahmood Rizvi	Download
17/06/2010	CHALLENGES, OPERTUNITIES, HOUSING AND FINANCE- ADFIAP	Zaigham Mahmood Rizvi	Download
09/06/2012	ASIA PACIFIC UNION FOR HOUSING FINANCE	Zaigham Mahmood Rizvi	Download
10/07/2024	IN ASIAN COUNTRIES: SOLAR FOR SOCIAL HOUSING	Zaigham Mahmood Rizvi	Download
05/06/2010	EVOLUTION OF THE REGULATORY FRAMEWORK IN PAKISTAN	Zaigham Mahmood Rizvi	Download
18/06/2010	HOUSING IN SOUTH ASIA	Zaigham Mahmood Rizvi	Download
18/06/2010	PAKISTAN: EVOLUTION OF THE REGULATORY FRAMEWORK	Zaigham Mahmood Rizvi	Download
19/06/2009	LOW INCOME HOUSING INITIATIVES IN PAKISTAN	Zaigham Mahmood Rizvi	Download
21/11/2014	PAKISTAN: TECHNOLOGIES FOR LOW COST HOUSING	Zaigham Mahmood Rizvi	Download
11/06/2009	PAKISTAN LOW INCOME HOUSING SCHEME	Zaigham Mahmood Rizvi	Download
21/11/2014	IUHF Pro-Poor Housing Finance in Asia	Zaigham Mahmood Rizvi	Download
26/06/2009	ASIA: PRO-POOR HOUSING	Zaigham Mahmood Rizvi	Download
21/11/2014	PRO-POOR HOUSING ISSUES AND ASIA-PACIFIC UNION FOR HOUSING FINANCE (APUHF)	Zaigham Mahmood Rizvi	Download
18/06/2010	REGIONAL PROJECT ON PRO POOR HOUSING FINANCE IN ASIA- PACIFIC	Zaigham Mahmood Rizvi	Download