Islamabad – U Microfinance Bank (U Bank) and Yousuf Dewan Companies have entered into a strategic collaboration aimed at providing innovative financing options to make the ownership of electronic vehicles (EVs) more accessible and affordable for customers.
The Memorandum of Understanding (MoU) was signed recently at a ceremony in Islamabad by Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, and Mr. Dewan Mohammad Yousuf Farooqui, Chairman of Dewan Group, in the presence of senior management members from both organizations.
Under this partnership, customers of Yousuf Dewan Companies will benefit from exclusive loan offerings and bundled services for the ownership of Honri and KIA electronic vehicles. These benefits will include insurance coverage and registration facilities, providing a comprehensive solution for EV buyers.
Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, expressed his enthusiasm at the signing ceremony: “We are thrilled to partner with Yousuf Dewan Companies to facilitate innovative financing solutions for customers interested in EVs. This collaboration is a significant step towards enhanced accessibility to cost-effective means of mobility. By combining our financial expertise with Yousuf Dewan Companies’ strong market presence, we are confident in driving technological and financial innovations further that are beneficial to all stakeholders.”
Mr. Dewan Mohammad Yousuf Farooqui, Chairman of Dewan Group, also commented on the partnership: “This partnership with U Microfinance Bank marks a significant milestone for us in our mission to provide easy financing solutions. By making it more accessible for people to own electronic and commercial vehicles, we are not only enhancing individual mobility but also contributing to the broader goal of a more sustainable future. Our collaboration with U Bank is a testament to our commitment to driving innovation and making impactful strides in the automotive industry in Pakistan.”
This partnership aims to address the growing demand for electronic vehicles in Pakistan by making them more accessible through innovative financial solutions, ultimately contributing to the country’s sustainability goals.
