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MMBL signed MoU with Universal Motors to fund commercial vehicles for its customers

Mobilink Microfinance Bank Limited (MMBL), Pakistan’s largest digital bank, has signed a Memorandum of Understanding with Universal Motors (Pvt) Ltd., a leading importer, exporter and manufacturer of commercial vehicles in Pakistan. ۔ This support will facilitate MMBL lenders to finance commercial vehicles from Universal Motors through subsidized offers.

MMBL President and CEO Ghazanfar Azam and Universal Motors CEO Adil Noman signed the MoU with senior officials of both the organizations in Islamabad. This support will provide fast track preferential funding for MMBL borrowers to secure commercial vehicles from Universal Motors to start or expand their business.

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 borrowers.

Creating further ease for 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 subsidized transportation rates.

Sharing his thoughts at the signing ceremony, President and CEO MMBL, Ghazanfar Azzam said, “MMBL’s expansive product portfolio has witnessed a significant growthtrajectory over the past 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 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.”

Adil Noman, CEO Universal Motors 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.”

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