MIPF Assisted Member Mortgage Scheme

As the Fund Rules do not allow the granting of loans by the Fund to its members, the Fund has made arrangements with the Central African Building Society (CABS), the National Building Society (NBS) and FBC Building Society to provide mortgage loans to its members.

The loans are for purchasing urban houses, stands for constructing private dwelling houses, or for refurbishing private dwelling houses and improving existing homes. Each Building Society shall decide whether to provide the loan or not on a case by case basis. Given that the building societies shall provide the loans and carry 100% of the risks, their terms and conditions shall apply.

It is a lending requirement that the members' employers should be up to date with remittance of pension contributions to the Fund. In addition, the member should have contributed to the Fund for a minimum period of 24 months. As information on the scheme was disseminated to all mines, interested members should contact their Human Resources Departments for further details on the scheme.

 
 
 

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