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Meezan Bank and MDK Saiyaara form Strategic Alliance for Car Ijarah Customers

June 15th, 2017

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 Mr. Ariful Islam – Deputy CEO of Meezan Bank, Mr. Arshad Majeed – Group Head Consumer Finance of Meezan Bank and Mr. Rashid Mehmood Awan and Mr. 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.”

Mr. 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.

MDK Signing Ceremony

Mr. Rashid Mehmood Awan Director MDK Saiyaara (Sitting 3rd Right) and Mr. Ariful Islam, Deputy CEO, Meezan Bank (Sitting 2nd Left), Mr. Arshad Majeed Group Head Consumer Finance Meezan Bank (sitting 3rd left) along with their teams at the signing ceremony.