Home Business & Finance Pirani Group signs MoU with BankIslami for Bike Financing

Pirani Group signs MoU with BankIslami for Bike Financing


By Rafiq Vayani

KARACHI: Pakistan’s leading Islamic bank, BankIslami Pakistan Limited (BIPL) has joined hands with Pirani Group of Companies (manufacturer of Super Power Bikes) for its new consumer product of Bike Financing to their Corporate, Commercial, SME customer’s employees under Employees Banking Services. Bike Financing is a Shariah-compliant financing facility through which one can own its own dream bike on easy and affordable monthly payments in a Riba freeway.

The MoU signing ceremony between BankIslami and Pirani Group of Companies was held at Pirani Group of Companies Head Office on Wednesday 24th March 2021.  Mr. Zaheer Elahi Babar – Group Head – Corporate and IBG of BankIslami and Mr. Navaid Usman Memon Pirani – Director Pirani Group of Companies signed the MoU.

Speaking on the occasion, Mr. Zaheer Elahi Babar said “BankIslami is aimed to provide benefits of Islamic Banking to the grassroots level, and bike financing is one of those steps through which individual employee of a company can purchase bikes on very affordable monthly installments.”

Mr. Navaid Usman Memon Pirani further added that demand for motor bikes is ever growing and Pirani Group’s affinity with BankIslami will certainly bring productive & fruitful results for both organizations. The Company will offer complete range of Super Power motor bikes.

The event was also honored by the presence of Mr. Touseef Ahmed Abbasi Head Cash Management and Employee Banking BankIslami, Mr. Pervaiz Ismail Group CFO, Pirani Group of Companies and Mr. Noman Ahmed – Senior Manager BankIslami.

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