Meezan Bank hosts Country-wide ‘Car Ijarah Dealers Convention–2018’

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KARACHI : Meezan Bank, Pakistan’s first and largest Islamic bank hosted the Car Ijarah Dealers’ Convention 2018 – A 10-day convention that hosted manufacturers and dealerships in Karachi, Multan, Faisalabad, Lahore, Islamabad and Peshawar.

Mr. Arshad Majeed – Group Head Consumer Finance and Mr. Wise ur Rehman – Head of Car Ijarah represented the Bank at the Convention while the management teams of all major auto industry manufacturers and over 200 authorized and unauthorized dealerships’ owners and representatives also attended the event.
This first of its kind convention was developed and driven by Meezan Car Ijarah team – Pakistan’s first Shariah-compliant car financing product and involved representation from major industry manufacturers including Indus Motor Company Ltd., Honda Atlas Cars Pakistan Ltd., Pak Suzuki Motor Co. Ltd., Al-Haj FAW Motors (Pvt.) Ltd., Kia Lucky Motors Pakistan Ltd. and MDK Corporation etc.

Mr. Arshad Majeed, while speaking at the Convention said, “Car Ijarah Dealers’ Convention 2018 brings together the key players from Pakistan’s automotive industry and provides them with an unparalleled networking opportunity. As Pakistan’s Car Finance market continues to grow, innovation and exploration of various products and services being offered will provide fresh stimulus to auto industry by synergizing the strength of all business partners, manufacturers & dealership networks.”

Meezan Bank is the 7th largest bank in Pakistan and the leading Islamic bank of the country. The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of more than 600 branches supported by a countrywide network of 600 ATMs, Visa & MasterCard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Banking facility.

Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions, which is a testimony of the Bank’s commitment to excellence. These institutions include Islamic Finance News – Malaysia, Global Finance magazine – New York, Asset AAA – Hong Kong, Asiamoney – Hong Kong, The Banker – United Kingdom, South Asian Federation of Accountants, Islamic Finance Forum of South Asian Awards, Pakistan Banking Awards – Dawn & IBP Pakistan, Employers Federation of Pakistan and CFA Association – Pakistan.

The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA+ (Double A Plus) and short-term rating at A1+ (A One Plus) with stable outlook. The rating indicates sound performance indicators of the Bank.

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