Key Takeaways
- Meezan Bank's Islamic Car Ijarah portfolio accounts for 24 percent of Pakistan’s car financing industry.
- The bank financed over 9,700 cars and more than 3,200 motorcycles in the first half of 2026, including a significant number of electric vehicles.
- Meezan Bank has digitized its Car Ijarah processing to enhance efficiency and customer experience.
Meezan Bank has significantly strengthened its position in Pakistan’s automobile financing sector, capturing an estimated 24 percent share of the industry. According to data from the State Bank of Pakistan (SBP), car financing reached a record Rs 369 billion in May 2026, marking the 18th consecutive month of growth.
Ahmed Ali Siddiqui, Group Head Consumer Finance at Meezan Bank Limited, highlighted that the bank’s remarkable growth reflects customer trust and its commitment to innovation. He stated: 'The remarkable growth of Meezan Islamic Car Finance reflects the trust customers place in us and our commitment to innovation.'
During 2025, Meezan Bank financed a total of 13,126 cars, including 497 electric vehicles (EVs), and 7,031 motorcycles, with 138 being electric bikes. In the first six months of 2026, the bank further increased its financing activities, supporting 9,793 car purchases, of which 727 were EVs. Additionally, it financed 3,288 motorcycles, including 350 electric bikes.
The figures indicate a significant rise in electric vehicle adoption, with EV financing exceeding the total recorded during the entire year of 2025 and electric bike financing more than doubling the previous year’s volume. This trend underscores Meezan Bank's leadership in promoting sustainable transportation options.
To support its growing customer base and streamline operations, Meezan Bank has digitized its Car Ijarah processing system. The automated system is designed to deliver faster approvals, greater transparency, improved efficiency, and a smoother customer experience. Siddiqui added: 'By combining digital excellence with Shariah-compliant financing and leading the adoption of electric and hybrid vehicles, the Bank is creating lasting value for our customers while contributing to Pakistan’s sustainable economic and environmental future.'
The growth in car financing also reflects sustained expansion in Pakistan's auto finance market. The SBP reported that automobile financing reached a record Rs 369 billion in May 2026, marking a 36 percent year-on-year increase.
Meezan Bank’s commitment to innovation and sustainability is evident through its focus on electric vehicles and the digitization of its services. This approach not only enhances customer satisfaction but also aligns with Pakistan's broader goals for sustainable economic development.
The remarkable growth of Meezan Islamic Car Finance reflects the trust customers place in us and our commitment to innovation.
Ahmed Ali Siddiqui, Group Head Consumer Finance, Meezan Bank Limited
By combining digital excellence with Shariah-compliant financing and leading the adoption of electric and hybrid vehicles, the Bank is creating lasting value for our customers while contributing to Pakistan’s sustainable economic and environmental future.
Ahmed Ali Siddiqui, Group Head Consumer Finance, Meezan Bank Limited
