May 25th, 2012Meezan Bank will launch Residual Value Car Ijarah for Pak Suzuki Automobiles. Mr. Ariful Islam, COO & Executive Director – Meezan Bank and Mr. Hirofumi Nagao – Chief Executive & Managing Director – Pak Suzuki signed the MoU at a ceremony held at Meezan House –Karachi. As part of the agreement both companies will run a joint campaign for the promotion of the both Normal & Residual Ijarah product for Pak Suzuki automobiles – under the product umbrella of Meezan Car Ijarah (Auto Finance). Pak Suzuki will provide priority delivery to Meezan Bank’s customers who avail Car Ijarah for Pak Suzuki vehicles. Speaking at the occasion, Mr. Mohammad Raza, Head of Consumer Banking & Marketing – Meezan Bank highlighted that Meezan Car Ijarah was launched in 2002 and was the first and most successful Islamic Auto finance product in the country. He explained the benefits of the Residual value Ijarah which allows customers the flexibility and freedom to pay a lower monthly rental. Mr. Azam Mirza, General Manager Marketing and other members of from the Pak Suzuki attended the event. This is a second joint campaign MOU signed between the organizations to promote Meezan Car Ijarah products for Pak Suzuki automobiles in Pakistan.