Common use of Purposes of the Bank Clause in Contracts

Purposes of the Bank. The purposes of the Bank are— (a) to develop and maintain a secondary market for residential mortgages in the member territories; (b) to contribute to the mobilisation and allocation of long-term savings for investment in housing; (c) to support the development of a system of housing finance and provide leadership in the housing and home finance industry; (d) to promote the growth and development of the money and capital market; (e) to improve underwriting practices and efficiency in processing mortgages and to promote services and benefits related to such mortgages.

Purposes of the Bank. The purposes of the Bank areare to— (a) to develop and maintain a secondary market for residential mortgages in the member territories; (b) to contribute to the mobilisation and allocation of long-term savings for investment in housing; (c) to support the development of a system of housing finance and provide leadership in the housing and home finance industry; (d) to promote the growth and development of the money and capital market; (e) to improve underwriting practices and efficiency in processing mortgages and to promote services and benefits related to such mortgages.