BankIslami, one of Pakistan’s leading Islamic banks, has entered into a strategic partnership with MG Motors Pakistan to roll out a specialized Shariah-compliant auto financing package. This collaboration is being positioned as a breakthrough in the country’s auto finance sector, with rates and facilities designed to redefine affordability, accessibility, and transparency for consumers.
The offer introduces a headline rental rate starting at just 4.99%, equivalent to 1.49% on a one-year basis. With this unprecedented pricing, BankIslami aims to set a new benchmark for Islamic auto financing in Pakistan. For customers seeking longer tenure plans, the package also offers two-year financing at 9.99% and three-year financing at 11.75%, ensuring flexible repayment options tailored to different consumer needs.
Beyond competitive pricing, the collaboration emphasizes speed and convenience. BankIslami has committed to same-day application processing and expedited approvals, allowing customers to secure financing and drive away their new vehicles without long waiting times. Financing of up to PKR 3 million and above will be available, backed by full Shariah compliance to guarantee ethical and transparent practices. To provide additional peace of mind, the bank is also offering attractive coverage plans through its panel of insurance partners.
The package covers select MG models, including the MG HS and the MG HS Plug-in Hybrid Electric Vehicle (PHEV). With these models, the collaboration caters to consumers who are not only focused on design and performance but are also conscious about sustainability. MG’s hybrid technology and eco-friendly engineering, paired with BankIslami’s Islamic financing, present an option for buyers seeking a blend of modern mobility and responsible financing.
Commenting on the partnership, Syed Asif Ahmed, General Manager, Marketing Division at MG Motors Pakistan, shared that the initiative is aligned with MG’s vision of making premium mobility accessible to more people in the country. He highlighted that customers can now enjoy MG’s advanced automotive technology and environmentally responsible vehicles while benefitting from the lowest financing rates in the industry. “It’s a win-win for innovation, affordability, and customer convenience,” he remarked, emphasizing how the partnership will reshape the financing landscape.
This collaboration also reflects broader market trends in Pakistan, where demand for Shariah-compliant financial solutions continues to grow rapidly. As consumers seek alternatives to conventional financing, Islamic banks like BankIslami are leveraging partnerships with leading automotive companies to expand their offerings and attract a new generation of customers.
By combining MG’s global reputation for cutting-edge automotive design with BankIslami’s strong presence in Islamic finance, the initiative represents a significant step forward for both industries. It is expected to boost MG’s market penetration in Pakistan while also enhancing BankIslami’s position as a leader in innovative Shariah-compliant financial products.
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