More than 100 informal settler families belonging to Multi-tribal Phase 1 Homeowner’s Association (MTHOA) recently received new homes at a 1.6-hectare housing project in Mampang, Zamboanga City, courtesy of the Social Housing Finance Corporation’s (SHFC).
The pilot project, under the Community Mortgage Program (CMP), was financed with a total loan amount costing P10.43M, and was entered under a usufruct agreement: SHFC will pay the landowner in behalf of MTHOA. Two years after, MTHOA will start paying their monthly amortization to SHFC.
The housing project is a breakthrough for CMP since some guidelines were modified to respond to the customs and tradition of the Muslims, including the conversion of the 6% annual interest into ijara fee which is equivalent to reward or wages for a work done or rendered.
The practice of polygamy, house design, and leadership titles were also taken into consideration in drafting the policy.
Multi-sectoral partnership
Responding to the need for the development of an innovative and culturally-sensitive housing program, various sectors partnered in this project, including Ateneo de Davao University – Al Qalam Institute for Islamic Identities and Dialogue in Southeast Asia & Engineering Department, ZAMPEN Urban Poor Alliance, Inc., LGU Zamboanga, Western Mindanao State University, and National Commission on Muslim Filipinos (Commissioner Roque Santos Morales & Region IX).
SHFC President Ma. Ana Oliveros said that SHFC will continue to partner with other agencies in order to polish the policies of a culturally-sensitive housing finance that will respond to the needs of Muslims all over the Philippines. She also stressed SHFC’s thrust of providing more efficient services through streamlined processes.
“We will journey together in order to provide more accessible housing for the poor,” Oliveros said.
