Meezan Bank and Master Motors Sign MoU for Promoting Changan

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Meezan Bank, Pakistan’s leading Islamic bank and the Best Bank in Pakistan has signed a Memorandum of Understanding with Master Motors Limited (MML) and Master Motor Corporation Pvt Limited (MMCL). Both the companies are part of Master Group – makers of Master Molty Foam. MML has signed a Joint Venture agreement with the reputed and no. 1 Chinese passenger car brand “CHANGAN”.

Under this MoU, Meezan Bank, MML and MMCL have agreed on a joint campaign to promote the ‘Changan Karvaan’ Passenger minivan through Meezan Bank’s flagship auto finance product ‘Car Ijarah’. The ‘Karvaan’ is a modern and spacious multi-functional minivan for the middle-income group with a powerful 1.0L engine, 7 spacious seats and powerful Dual AC. Meezan Bank will provide financing for this vehicle through an attractive financing package including a range of additional services and benefits such as early vehicles delivery as well as free initial services.”

Meezan Bank and Master Motors Sign MoU for Promoting Changan 1

The signing ceremony took place at Meezan House, Meezan Bank’s Head Office, Karachi. Mr. Irfan Siddiqui – President & CEO, Mr. Arshad Majeed – Group Head Consumer Finance of Meezan Bank Ltd. Mr. Nadeem Malik – Chairman and Mr. Danial Malik – CEO Master Motors Limited attended the ceremony with their respective teams. MOU has been signed by Mr. Irfan Siddiqui and Mr. Nadeem Malik.

Mr. Irfan Siddiqui – President & CEO of, Meezan Bank lauded the agreement as a welcome move for Pakistan’s Automotive industry and said that it will boost healthy competition in the market.

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