MMBL, Universal Motors sign deal

KARACHI: Pakistan’s largest digital bank, Mobilink Microfinance Bank Limited (MMBL) has signed a memorandum of understanding (MoU) with Universal Motors (Private) Limited, a prominent importer, exporter, and manufacturer of commercial vehicles in Pakistan, a statement said.

The collaboration will facilitate MMBL borrowers by allowing them to finance commercial vehicles from Universal Motors through subsidised offerings.

MMBL president and chief executive officer Ghazanfar Azzam and Adil Noman, CEO of Universal Motors, signed the MoU in Islamabad with senior officials from both organisations in attendance.

The collaboration will usher in fast-track and priority financing for MMBL borrowers to attain commercial vehicles from Universal Motors for starting or expanding their business operations, under convenient terms.

Following the MoU, MMBL customers will get fast product delivery turnaround times (TAT), in addition to the provision of 1S/2S/3S dealership or retailer services by Universal Motors, near MMBL branches across the country to extend after-sale services for the borrowers.

Creating further ease for the borrowers, the vehicles will be delivered at MMBL branch cities with Universal Motors sharing the registration costs, and offering vehicle delivery from Karachi to the destination city at subsidised transportation rates.

Sharing his thoughts at the signing ceremony, Azzam said: “MMBL’s extensive product portfolio has witnessed a significant growth trajectory over the last few years with the introduction of more and more customer-centric products that are aimed at facilitating maximum convenience for empowering our borrowers in true sense.”

“This collaboration with [the] Universal Motors will further solidify our aim of promoting hassle-free attainment of commercial vehicles, for business use, which will substantially be backed by quality after-sales services.”

Noman said: “Our collaboration with MMBL will help us target low-income groups that need financing for our sturdy and dependable JMC commercial vehicles. Universal Motors is introducing special financial incentives and logistical support to fully facilitate MMBL borrowers.”

“We are hopeful that our collaboration with MMBL will drive our shared ambition of supplementing the economic development of Pakistan.”