KARACHI: Meezan Bank has strengthened its position in Pakistan’s automobile financing sector, with its Islamic Car Ijarah portfolio accounting for an estimated 24 percent share of the industry.
According to the State Bank of Pakistan (SBP), automobile financing reached a record Rs 369 billion in May 2026, representing a 36 percent year-on-year increase and marking the 18th consecutive month of growth. The growth comes amid sustained expansion in Pakistan’s auto finance market.
Meezan Bank’s financing activity also highlights its growing role in supporting electric mobility. During 2025, the Bank financed 13,126 cars, including 497 electric vehicles, and 7,031 motorcycles, including 138 electric bikes.
In the first six months of 2026, the Bank financed 9,793 cars, of which 727 were electric vehicles. It also financed 3,288 motorcycles, including 350 electric bikes.
The figures indicate a sharp rise in electric vehicle adoption. In just six months of 2026, electric car financing exceeded the total recorded during the whole of 2025, while electric bike financing more than doubled the previous year’s full-year volume.
Meezan Bank has also digitised its Car Ijarah processing, enabling financing decisions to be handled at the branch level with minimal manual intervention. The automated system is designed to deliver faster approvals, greater transparency, improved efficiency and a smoother customer experience.
Ahmed Ali Siddiqui, Group Head Consumer Finance, Meezan Bank Limited has said that the remarkable growth of Meezan Islamic Car Finance reflects the trust customers place in us and our commitment to innovation.
“By combining digital excellence with Shariah-compliant financing and leading the adoption of electric and hybrid vehicles, the Bank is creating lasting value for our customers while contributing to Pakistan’s sustainable economic and environmental future,” he added.
Copyright Business Recorder, 2026
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