- July 30, 2026
- Posted by: Tresmark
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Meezan Bank has strengthened its position in Pakistan's auto financing sector, with its Islamic Car Ijarah portfolio accounting for an estimated 24% of the country's automobile financing market.
According to the State Bank of Pakistan (SBP), outstanding automobile financing reached a record PKR 369 billion in May 2026, marking a 36% year-on-year increase and extending the sector's growth streak to 18 consecutive months.
The bank has also expanded its presence in electric vehicle (EV) financing. During 2025, it financed 13,126 cars, including 497 electric vehicles, along with 7,031 motorcycles, of which 138 were electric bikes.
In the first half of 2026, Meezan Bank financed 9,793 cars, including 727 electric vehicles, and 3,288 motorcycles, including 350 electric bikes, indicating a sharp rise in demand for EV financing. Electric car financing during the first six months of 2026 surpassed the total recorded in all of 2025, while electric bike financing more than doubled last year's full-year volume.
The bank has also digitised its Car Ijarah financing process, allowing applications to be processed at the branch level with minimal manual intervention to improve approval times, transparency and customer experience.
Ahmed Ali Siddiqui, Group Head Consumer Finance at Meezan Bank, said the growth reflects customer confidence in the bank's Shariah-compliant financing solutions and its focus on digital innovation and sustainable mobility.
