Meezan Bank, CarFirst sign MoU

KARACHI: Meezan Bank has recently signed a memorandum of understanding (MoU) with CarFirst, which is a nationwide platform for selling certified used cars, a statement said on Wednesday.

CarFirst online system is backed by network of inspection centres across the country for purchase and exchange of used vehicles, it added. Arshad Majeed, group head consumer finance of Meezan Bank, and Raja Murad Khan, chief executive officer and co-founder of CarFirst, signed the MoU.

Under the MoU, Meezan Bank will provide Shariah-compliant financing solutions to customers for the purchase of used cars through CarFirst platform. CarFirst and Meezan Bank will also jointly work on developing innovative financing products for the purchase of used vehicles that will be offered through CarFirst platform, it added.