Meezan Bank has marked a Memorandum of Understanding with Master Motors Limited (MML) and Master Motor Corporation Pvt Limited (MMCL). Both the organizations are a subsidiary of Master Group – producers of Master Molty Foam. MML has consented to a Joint Venture arrangement with the Chinese traveler vehicle brand “CHANGAN”.
Under this MoU, Meezan Bank, MML, and MMCL have conceded to a joint venture to advance the ‘Changan Karvaan’ Passenger minivan through Meezan Bank’s leader car account item ‘Vehicle Ijarah’.
The ‘Karvaan’ is a cutting edge and open multi-utilitarian minivan for the center pay gather with a ground-breaking 1.0L motor, 7 roomy seats, and incredible Dual AC. Meezan Bank will give financing to this vehicle through an alluring financing bundle including the scope of extra administrations and advantages, for example, early vehicle conveyance just as free beginning administrations.”
Meezan Bank Ijarah – Changan Karvaan Bank Lease
The MoU Signing happened at Meezan House, Meezan Bank’s Head Office, Karachi.
Mr. Irfan Siddiqui – President and CEO, Mr. Arshad Majeed – Group Head Consumer Finance of Meezan Bank Ltd. Mr. Nadeem Malik – Chairman and Mr. Danial Malik – CEO Master Motors Limited went to the service with their individual groups. MOU has been marked by Mr. Irfan Siddiqui and Mr. Nadeem Malik.
Mr. Irfan Siddiqui – President and CEO of, Meezan Bank commended the understanding as an appreciated move for Pakistan’s automotive industry and said that it will support the solid challenges in the market.