Jazz signs accord with Shariah-compliant financing platform

ISLAMABAD: Jazz, a part of VEON Group, has signed an agreement with Kistpay, a Shariah-compliant financing platform, to bring smartphones to its consumers on easy installment plans.

This collaboration will offer easy installment-based and Shariah-compliant financing instruments to encourage more middle- and low-income people to own a smartphone. Starting as low as Rs 2,243 per month, customers can buy smartphones using either the three-month plan or the six-month plan by visiting the nearest Jazz experience center.

Speaking at the signing ceremony, Asif Aziz, Jazz’s Chief Commercial Officer, said: “This partnership is an extremely important step towards achieving our ‘4G for All’ vision. Owning a smartphone is a key enabler of the digital economy, and this joint initiative will improve the buying ability of unserved and underserved communities by providing installment-based financing options to purchase smartphones.”

Asif Jafri, CEO at Kistpay, said: “We are thrilled to partner with Jazz again to provide ease of access and ownership of smartphones to all our countrymen including the youth and women. We are confident that this alliance will boost digital economic growth and empower our rural communities.”

Julian Gorman, Head of Asia Pacific, GSMA, also witnessed the signing ceremony virtually and lauded the efforts of both organisations to help address the device affordability barrier in Pakistan.

While the affordability of smartphones remains a key barrier to mobile ownership and mobile internet adoption, particularly for women and rural populations, Jazz has taken various initiatives to expand the benefits of mobile broadband, especially among low-income segments in Pakistan. The rollout of Jazz Digit 4G smart feature phones was also recognized last year by the organisation representing mobile network operators, GSMA.

This partnership also reflects the company’s adherence to the United Nations Sustainable Development Goals (SDGs), including SDG 5 – Gender Equality; SDG 9 - Industry, Innovation and Infrastructure; and SDG 10 – Reduced Inequalities.

Copyright Business Recorder, 2023