Daraz and Meezan Bank Partner to Drive Electric Bike Adoption in Pakistan

September 25th, 2023

Meezan Bank, Pakistan’s leading Islamic bank, and Daraz, Pakistan’s largest e-commerce platform, have signed a Memorandum of Understanding (MoU) to support and encourage the use of electric bikes in Pakistan. Through this partnership, Meezan Bank will provide Shariah-compliant financing for electric bikes to Daraz delivery staff/riders across the country.

The MoU was signed by Syed Iftikhar ul Haq – Group Head, Consumer Finance, Meezan Bank and Ahmed Tanveer – Chief Operating Officer of Daraz Pakistan, in the presence of senior executives from both organizations.

On this occasion, Syed Iftikhar ul Haq remarked, “We are excited to collaborate with Daraz in promoting electric bikes in Pakistan. Together, we are working to reduce emissions and provide a more cost-effective and eco-friendly transportation solution that will benefit both our environment and the local community.”

Ahmed Tanveer added, “We are fully committed to enhancing our customers’ delivery experience while actively contributing to a greener and more sustainable Pakistan. Through our collaboration with Meezan Bank, we hope that we are not only able to encourage environmentally responsible practices but also provide our riders with a more economically viable solution in light of rising fuel costs.”

This collaborative effort between Meezan Bank and Daraz Pakistan signifies a substantial stride towards a cleaner and more sustainable transportation future in Pakistan.