Meezan Bank launches 'Laptop Financing'

Pakistan's first and largest Islamic bank, Meezan Bank has launched a new consumer financing product that will allow customers to purchase laptops on easy instalments. The new product called Laptop Ease is being offered for repayment periods ranging from 3 months to 24 months. The bank will not charge any profit or return from customers who opt for the 3 month or 6 month instalment plan.
The product has been launched in collaboration with New Horizon and is available for only HP laptops. New Horizon will provide two years warranty with parts along with nation-wide after sales services at the customers' doorsteps. Mohammad Raza, Head of Consumer Banking of Meezan Bank and Rahim Eqbal, COO of New Horizon signed the MoU at Meezan Bank's Head Office.
"Meezan Laptop Ease" through which customers can purchase Hewlett-Packard (HP) laptops, equipped with the latest features under a Halal financing scheme, is another step towards achieving Meezan Bank's vision of making Islamic banking the banking of first choice. Through this Riba-free facility, customers will be able to acquire laptops at easy instalments for periods ranging from 3 to 24 months.
Raza said that Meezan Bank has an active focus on developing customer-friendly, Islamic alternatives to conventional banking products, in line with its Mission to offer a one-stop shop for innovative value-added products and services to the customers within the bounds of Shariah.
Meezan Bank is the first and largest Islamic Bank in Pakistan having a network of over 220 branches in over 60 cities across Pakistan. Meezan Bank offers a complete range of Islamic banking products and services, including free online banking for all Pak Rupee account at all its branches. The bank's retail banking network is supported by 24/7 banking services that include over 175 ATMs, Internet Banking, VISA Debit card and a 24-hour Call Center. The Bank's VISA Debit card allows its customers to shop at more than 30 million merchants world-wide and withdraw funds from their accounts from more than 1.4 million ATM's worldwide.-PR