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Meezan Bank and CarFirst Enter into Strategic Alliance for Providing Shariah-Compliant Financing to CarFirst Customers

Meezan Bank, Pakistan’s leading Islamic bank has recently signed a Memorandum of Understanding (MoU) with CarFirst, which is a nationwide platform for selling certified used cars.

Related: Meezan Bank and Regal Automobiles Enter into Strategic Alliance for Shariah-Compliant Car Financing Solutions

CarFirst’s online system is backed by network of inspection centers all over Pakistan for purchase and exchange of used vehicles. Mr. Arshad Majeed, Group Head Consumer Finance – Meezan Bank and Mr. Raja Murad Khan – Chief Executive Officer and Co-Founder of CarFirst signed the MOU between the two organizations.

Under the MoU, Meezan Bank will provide Shariah-compliant financing solutions to customers for the purchase of used cars through CarFirst’s platform. CarFirst and Meezan Bank will also jointly work on developing innovative financing products for purchase of used vehicles that will be offered through CarFirst’s platform.

Related: Meezan Bank and Indus Motor Company Sign MoU for Priority Delivery of Toyota Vehicles

Speaking at the occasion, Mr. Arshad Majeed expressed his appreciation that this initiative will provide Meezan Bank’s Car Ijarah customers uniquely structured car financing solutions for certified used cars. He further added that this alliance will facilitate consumers by making the financing of used cars available to a larger number of customers.

Commenting on the occasion Mr. Raja Murad Khan said:

“CarFirst, Pakistan’s most trusted used car trading platform, looks forward to offering tailored solutions to Meezan Bank and its customers for their automotive needs.”

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