KARACHI: Askari Bank Limited (AKBL) through its Islamic banking operations has partnered with Atlas Honda Limited (AHL), the largest producer of motorbikes in Pakistan for the launch of riba free motorbikes ijarah facility for salaried class.
Both the entities have signed a memorandum of understanding (MoU) at the Atlas Honda Head Office here. The program was attended by President and CEO Askari Bank Limited, Syed Majeedullah Hussaini, Country Head, Askari Islamic, Fahd Sardar Khan, Head of Credits, Askari Islamic,Imran Omar Awan, Regional Head Credits, Askari Islamic, Shaikh Salman Tahir, Team Leader Credits, Askari Islamic, Salman Farrukh, CEO Atlas Honda Limited, Saquib H. Shirazi, CEO Honda Atlas Cars (Pakistan) Limited, Takeharu Aoki, CEO Honda Atlas Power Products (Pvt) Ltd, Hisao Kobayashi, Director Business Planning Division Atlas Honda Motor Company Ltd., Kazuhisa Hirota and other senior executives of Atlas Honda Limited and Askari Bank, said a press release on Monday.
This initiative by Askari Bank and Atlas Honda aims to explore the untapped motorbike leasing industry by offering highly attractive financing terms to the salaried class in accordance with the Shariah guidelines.
Askari Bank's President and CEO, Syed Majeedullah Husaini said : " we are entering a strategic alliance with Atlas Honda to facilitate the salaried class of Pakistan. He said "we will continue to explore meaningful avenues in collaboration with Atlas Group to provide the customers with much better and sophisticated financial solutions."
CEO of Atlas Honda Limited, Saquib H. Shirazi said this MoU reflects the outstanding contribution of both the teams. He said that this step demonstrates our positive approach to identify and stay at the forefront of consumer trends driving the industry.
Askari Bank Limited continues to operate through a network of 281 branches including 40 Islamic banking branches in 83 cities of Pakistan to provide individuals, corporations and government institutions with a broad spectrum of financial products and services including corporate and investment banking, consumer banking and credit, securities brokerage, commercial, agricultural, Islamic and asset financing, he elaborated.
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