Faysal Bank Limited (FBL) and Pakzon Electric Motors Pvt Limited have joined forces in a strategic alliance. The partnership was formalized through the signing of a memorandum of understanding (MoU), marking the initiation of a unique collaboration aimed at making electric motorbikes accessible to customers through Shariah-compliant easy monthly installment plans.
Promoting Clean Mobility: A Transformative Partnership Unveiled
The signing ceremony, attended by key representatives from both entities, including Aneeq Malik, Head of Consumer Finance, and Feroz Khan, Head of Unsecured Business & Cards at Faysal Bank, highlighted the commitment of both Faysal Bank and Pakzon Electric Motors to fostering sustainable practices and contributing to clean mobility solutions in Pakistan.
Mr. Aneeq Malik emphasized Faysal Bank’s dedication to promoting environmentally friendly initiatives, stating, “The need to focus on clean mobility is more relevant and urgent than ever before. Alarming pollution levels and increasing fuel costs have necessitated the adoption of electric vehicles (EVs). This business alliance is a testimony of our commitment to our customers.”
Innovative Financing Options: Faysal Islami Noor Cards and Faysal Takmeel
As part of this transformative alliance, Faysal Islami Noor Cards and Faysal Takmeel will serve as key channels, offering customers access to electric motorbikes through innovative and Shariah-compliant easy monthly installment plans. Faysal Islami Noor Card customers can enjoy the convenience of booking electric motorbikes with zero percent profit for a three-month installment period and without any down payment.
Furthermore, Faysal Takmeel provides customers the option to avail electric bikes through Shariah-compliant fixed monthly installment plans for up to 36 months, featuring the lowest rates in the industry. This strategic move aligns with the State Bank of Pakistan’s Green Initiative Policy, emphasizing the commitment of both entities to contribute to a Clean & Green Pakistan.
Driving Change: A Step Towards a Greener Future
Beyond facilitating accessibility, the collaboration between Faysal Bank and Pakzon Electric Motors aims to create awareness and maintain affordability. By providing consumers with innovative financing options, the partners aspire to encourage the adoption of electric vehicles, promoting a greener and more sustainable future.
This transformative partnership not only addresses pressing environmental concerns but also paves the way for a future where sustainable practices and accessible financing options converge. Faysal Bank and Pakzon Electric Motors are set to lead the charge towards a cleaner, greener, and more eco-conscious Pakistan.
