Meezan Bank, which is Pakistan’s leading Islamic bank, is launching a remarkable initiative – ‘Women First Car Ijarah’ that focuses on empowering women and promoting their financial independence. This innovative idea promotes women’s freedom and mobility by enabling them to own a car in a safe and Shariah-compliant manner.
The Women First Car Ijarah scheme offers women the opportunity to easily finance their car purchase with flexible funding options, free from processing fees, and at competitive takaful (Islamic insurance) rates. The plan’s main theme is to provide every luxury women deserve, as they are doing a lot. The plan caters for locally manufactured cars up to 1000cc for a term of five years and for cars above 1000cc for a term of three years. An advance rent of a minimum of 30% is considered security to ensure the full conduct of the plan is clear and forward.
Recently, Meezan Bank stated that the Women First Car Ijarah is part of their continuing commitment to ethical, easy-to-use banking products for women in Pakistan. A spokesperson added that initiatives like this one expand women’s active engagement with the economy, while also enhancing trust in Islamic finance.
Thanks to this launch, Meezan Bank has taken the lead in the field of humanistic financial solutions, which are Shariah-compliant and, at the same time, deal with economic and social problems in a very creative way. The Women First Car Ijarah is directed towards the growing number of female professionals, businesswomen, and students who are looking for safe and economical means of transport.
