Yango Pakistan and Mobilink Bank joined hands to make vehicle and handset financing more accessible for partner drivers and couriers, combining Shariah-compliant financing with Takaful protection and digital banking solutions.
The innitiative will provide eligible Yango partner drivers and couriers with access to Shariah-compliant vehicle and handset financing, embedded Takaful protection, and inclusive digital banking and payment solutions, and will strengthen financial inclusion by supporting partner drivers with solutions tailored to their livelihood and business needs.
This collaboration recognizes the vehicle as a core productive asset for ride-hailing drivers and brings financing and financial services together to support their earning journey. Rather than offering standalone financing, Mobilink Bank and Yango Pakistan will support drivers throughout their earning journey by bringing financing, protection, digital payments, banking and connectivity together in one integrated ecosystem.
The financing proposition includes Car Diminishing Musharakah financing of up to PKR 5 million, as well as Murabaha financing for motorcycles, e-bikes, rickshaws and handsets for eligible drivers identified by Yango Pakistan. Rickshaw, motorcycle and handset financing will also be offered under applicable Corporate Guarantee arrangements.
The partnership also provides eligible financed customers with complimentary embedded Takaful coverage throughout the financing tenure, including income protection, hospitalization and maternity benefits for eligible women borrowers, and accidental death or permanent disability coverage. Vehicle Takaful and additional asset-protection solutions will also be available under the proposition.
Miral Sharif, Country Head for Yango Pakistan stated: “For a driver, a vehicle is not simply an asset — it is the foundation of their earning potential. Access to appropriate financing and protection can therefore have a direct impact on their ability to work and grow. Our partnership with Mobilink Bank brings these solutions closer to eligible partner drivers , while giving them greater flexibility to invest in the tools they rely on every day. We see this as an important part of building a stronger and more sustainable driver ecosystem.”
Commenting on the partnership, Haaris Mahmood Chaudhary, President & CEO Mobilink Bank, said, “Pakistan’s growing gig economy is creating new opportunities for entrepreneurship and livelihoods, yet many independent earners remain underserved by formal financial services. Mobilink Bank recognizes ride-hailing drivers as entrepreneurs whose vehicles are central to their livelihoods. Through this partnership, we are bringing Shariah-compliant financing, protection and digital financial services within their reach so they can access the tools they need to manage and grow their income with greater financial security.”
Eligible Yango partner drivers and couriers will also gain access to Mobilink Bank’s digital banking and payment ecosystem, including digital account onboarding, Business Plus Account benefits, Raast QR payments and a dedicated Driver QR for fare collection, along with select connectivity and handset benefits.
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