United Bank Limited has formalized a strategic partnership with SOGO Group of Companies by signing a Memorandum of Understanding to introduce electric bike financing options for UBL credit card holders. The signing ceremony, which took place at the SOGO Head Office in Karachi, marks a significant collaboration between the banking and energy sectors to promote sustainable mobility across Pakistan. This initiative is designed to make electric vehicles more accessible to the general public by offering flexible payment plans through existing credit facilities. By integrating financial products with eco-friendly transportation, the partnership aims to reduce the financial barrier for consumers looking to transition from traditional fuel-powered motorcycles to modern electric alternatives.
The leadership from both organizations emphasized that this collaboration is a timely response to the increasing demand for cost-effective and energy-efficient transportation solutions. Syed Iftikhar Ul Haq, Group Executive of Consumer Banking at UBL, and Sohail Mussarrat Siddiqui, Group Head of the Karachi Cluster, represented the bank at the event, highlighting the institutional commitment to supporting the national shift toward electric mobility. SOGO Group, known for its extensive distribution network and diverse range of rechargeable and solar products, provides the necessary industrial backbone to ensure that high-quality electric bikes are available to customers nationwide. This partnership leverages UBL’s vast digital banking reach and SOGO’s technical expertise to create a seamless acquisition process for eco-conscious commuters.
A primary highlight of this agreement is the focus on sustainable mobility as a core component of the national digital transformation. As fuel prices continue to fluctuate, the adoption of electric bikes offers a practical way for citizens to manage their daily commuting expenses while reducing their carbon footprint. The financing model through UBL credit cards is expected to offer competitive terms, allowing users to spread the cost of an electric bike over manageable installments. This approach not only supports individual financial wellbeing but also contributes to the broader environmental goal of reducing urban air pollution and dependence on imported petroleum products.
The move comes at a time when the government and various regulatory bodies are actively encouraging the growth of the electric vehicle ecosystem in Pakistan. By providing the financial infrastructure for such purchases, UBL and SOGO are positioning themselves as leaders in the green energy transition. The initiative also reflects a growing trend in the banking industry where financial institutions are increasingly aligning their product portfolios with environmental, social, and governance standards. For SOGO Group, this partnership provides an opportunity to scale its electric vehicle division and reach a wider demographic of tech-savvy consumers through UBL’s established customer base.
Ultimately, this institutional alignment is being viewed as a meaningful step toward building a cleaner and smarter transportation network in Pakistan. By focusing on integrated financial solutions for electric mobility, the two organizations are setting a new standard for how corporate partnerships can drive social and environmental change. As the program begins its rollout, the focus will remain on delivering tangible value to customers and ensuring that the transition to sustainable transport is as smooth and efficient as possible. This collaboration not only empowers individuals with better choices but also strengthens the overall ecosystem for electric vehicles within the domestic market.
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