Meezan Bank, Pakistan’s first and largest Islamic bank, and MDK Saiyaara, one of country’s leading imported vehicles provider, have recently formed a strategic alliance to facilitate Meezan Bank’s car financing product – Car Ijarah, customers with better facilities and a wider vehicle range. The alliance shall ensure immediate delivery of imported vehicles thus providing Fast Track Processing to Meezan customers. In addition, MDK will deliver cars selected under the program to customers anywhere in Pakistan.
The agreement was signed by Ariful Islam – Deputy CEO of Meezan Bank, Arshad Majeed – Group Head Consumer Finance of Meezan Bank and Rashid Mehmood Awan and Hassan Kamal Farooqui – of MDK.
Speaking at the ceremony, Mr. Ariful Islam said, “Meezan Bank’s alliance with MDK Saiyaara shall enable our customers to avail Shariah-compliant financing of imported vehicles on competitive pricing and simplified terms and conditions. We were impressed with the end to end logistic capability of MDK to procure cars in Japan and deliver these to customers in an efficient and professional manner.”
Hassan Kamal Farooqui, while speaking at the occasion said, “We are very pleased to be associated with Meezan Bank, the front-runners in Islamic Auto Financing in Pakistan. The collaboration delivers a great platform to lease imported vehicles for Meezan Bank’s Car Ijarah customers. This partnership shall set a new benchmark of product and service quality for customers who are now demanding innovative Islamic financing and Takaful products.