Yango Pakistan in collaboration with Mobilink Bank offered Sharia compliant financing to drivers
That is Pakistan. And Mobilink Bank joined hands to make vehicle and handset financing more accessible to partner drivers and couriers by combining Shariah-compliant financing with takaful protection and digital banking solutions.
The initiative will provide eligible Yango partner drivers and couriers with access to Shariah-compliant vehicle and handset financing, embedded takaful protection, and digital banking and payment solutions, and will strengthen financial inclusion by providing partner drivers with solutions tailored to their livelihood and business needs.
This collaboration recognizes the vehicle as a primary productive asset for ride-hailing drivers and brings together financing and financial services to support their journey to earning. Rather than offering stand-alone financing, Mobilink Bank and Yango Pakistan will support drivers on their journey to earning by bringing together financing, security, digital payments, banking and connectivity in an integrated ecosystem.
The financing proposal includes car reduction mushaira financing of up to PKR 5 million as well as murabaha financing for motorcycles, e-bikes, rickshaws and handsets for eligible drivers identified by Yango Pakistan. Rickshaw, motorcycle and handset financing will also be offered under applicable corporate guarantee arrangements.
The partnership provides complimentary embedded Takaful coverage to eligible financed customers during the financing period, including income protection, hospitalization and maternity benefits for eligible women borrowers, and accidental death or permanent disability coverage. Vehicle Takaful and additional asset protection solutions will also be available under the proposal.
Miral Sharif, Country Head of Yango Pakistan, said: “For a driver, a vehicle is not just an asset – it is the basis of their earning potential. Access to adequate financing and protection can therefore directly impact their ability to operate and grow. Our partnership with Mobilink Bank brings these solutions closer to qualified partner drivers, as we see them reinvesting every day as an important tool. A stronger and more sustainable driver ecosystem.” part of the construction.”
Commenting on the partnership, Haris Mehmood Chaudhry, president and CEO of Mobilink Bank said, “Pakistan’s growing gig economy is creating new opportunities for entrepreneurship and livelihoods, yet many independent earners lack access to formal financial services. Sharia-compliant financing, protection and digital financial services are bringing within reach so they can access the tools they need to manage and grow their incomes with greater financial security.”
Eligible Yango partner drivers and couriers will also get access to Mobilink Bank’s digital banking and payment ecosystem, including digital account onboarding, Business Plus account benefits, Raast QR payment and a dedicated driver QR for fare collection, as well as select connectivity and handset benefits.
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The post Yango Pakistan in collaboration with Mobilink Bank offers Sharia compliant financing to drivers appeared first on Daily Pakistan English News.
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