Qist Bazaar celebrated five years of operations as it evolved from a startup into a prominent Shariah-compliant installment financing provider in Pakistan. The company currently operates over 100 branches across more than 18 cities.
Since its inception in 2021, the platform has processed more than one million applications for products valued at over PKR 15 billion. Bank Alfalah, Indus Valley Capital, and Gobi Partners provide backing for the firm.
The business is currently broadening its Point-of-Sale partnerships with distributors and independent retailers. Arif Lakhani, Co-Founder of Bazaar, said, "You cannot understand a household’s financial reality sitting in a boardroom."
Lakhani added that the company must be present in neighborhoods to earn public trust and understand the people. The co-founder stated that the firm made a deliberate choice five years ago to finance necessities instead of luxuries.
Lakhani said this approach, combined with a community-driven model, has kept bad debt below 4% and demonstrated that commercial discipline can work alongside financial inclusion. Arif Lakhani, Co-Founder of Bazaar, said, "Necessities First, Payments Later. That’s not just our tagline. It’s how we do business."
While expressing pride in the team's achievements, Lakhani said it feels like the company is only getting started.
