KARACHI: Meezan Bank – Pakistan’s leading Islamic bank – has recently signed a Memorandum of Understanding with Indus Motor Company Ltd (IMC) – one of the largest automotive manufacturers and distributors in Pakistan, to provide priority delivery of all Toyota variants to Meezan Bank’s customers.
The signing ceremony took place in Karachi and was attended by Arshad Majeed – Group Head Consumer Finance, Meezan Bank and Abdul Rab – Senior General Manager, Indus Motor Company Limited along with their respective team members.
Under this agreement, Meezan Bank will provide additional value-added services of priority processing as well as fast track delivery of Toyota vehicles to customers of Meezan Car Ijarah, Pakistan’s first Riba-free car financing product.
Arshad Majeed while speaking at the occasion said, “Meezan Bank is the leading player in Pakistan’s Islamic Auto Financing industry. We are hopeful that our alliance with Indus Motor Company Ltd will further facilitate our clients by providing them with the best services across the country.”
Meezan Bank is the leading Islamic Bank of Pakistan and the 7th largest Bank in the country. Meezan Bank has consistently been recognized as the Best Islamic Bank in Pakistan by numerous local and international institutions, which is a testimony of the Bank’s commitment to excellence. The Bank has also been recognized as the Best Bank – 2018 by Pakistan Banking Awards, the most prestigious awards in the country’s banking sector.
The Bank provides a comprehensive range of Islamic banking products and services through a retail banking network of over 680 in 190 cities supported by a countrywide network of over 700 ATMs, Visa & MasterCard Debit cards, a 24/7 Call Center, Internet Banking and Mobile Banking facility.
The VIS Credit Rating Company Limited (Formerly JCR-VIS Credit Rating Company Limited), an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA+ (Double A Plus) and short-term rating at A1+ (A One Plus) with stable outlook. The rating indicates sound performance indicators of the Bank.