Meezan Bank plans to promote KIA Lucky Motors’ cars through its Sharia-based auto finance products.
In this regard, it has signed a Memorandum of Understanding with KIA Lucky Motors Pakistan Ltd – a collaboration between KIA Motors Corporation, South Korea and the Yunus Brothers Group, Pakistan, formed to start vehicle assembly/manufacturing operations in Pakistan.
Under this MoU, both the parties have agreed upon a joint promotion campaign for the KIA Grand Carnival. Meezan Bank has created a prospect for providing priority vehicle delivery to its customers across Pakistan. KIA is one of the world’s fastest-growing automobile manufacturers.
Ariful Islam, Deputy CEO of Meezan Bank, while speaking at the signing ceremony said:
Meezan Bank Car Ijarah has been developed to comply with the principles of Shariah for providing convenient car financing. The bank follows a strategy of maintaining stringent credit criteria and fast deliveries to maintain optimal customer service in line with the service values of the Bank.
Irfan Siddiqui, President, and CEO of Meezan Bank further added:
Our agreement with KIA Lucky Motors Pakistan will make the luxury car, Grand Carnival more affordable to a large population of brand lovers. The bank, in turn, will get the opportunity to couple this provision with a range of additional services and benefits including faster vehicles delivery as well as free initial services for its customers.
The signing ceremony took place at Meezan House, Meezan Bank’s Head Office, Karachi. Mr. Irfan Siddiqui – President & CEO and Mr. Ariful Islam – Deputy CEO of Meezan Bank, Mr. Asif Rizvi – CEO and Mr. Muhammad Faisal – COO of KIA Lucky Motors attended the ceremony along with their respective teams. MoU was signed by Mr. Ariful Islam and Mr. Muhammad Faisal.