Building its Prime Minister Youth Business Loan (PMYBL) portfolio further, JS Bankhas collaborated with Ghandhara to extend financing solutions to existing and potential customers of Ghandhara Nissan Limited, Ghandhara Industries Limited and Ghandhara DF (Pvt.) Limited.
JS Bank will provide financing solutions to organizations and individuals, who intend to purchase Light Commercial Vehicles (LCV’s) marketed by these three companies, including ISUZU, JAC & DongFeng variants. Applicants will be able to avail a markup rate of just 6% per annum.
Speaking at the occasion, Kamran Jafar, Group Head � Corporate & Retail Banking Group at JS Bank stated,
This agreement will revolutionize the dynamics of the commercial vehicle industry and provide convenient access to low-cost financing solutions to thousands of deserving individuals across Pakistan.
Muazzam Pervaiz Khan, Senior Executive Director Marketing and Sales � Ghandhara Nissan Ltd. stated,
The collaboration between JS Bank and Ghandhara Group underpins our resolve to provide value added services to our esteemed customers. This venture will provide the necessary growth impetus for customers who wish to capitalize on the growing number of opportunities in national economy.
Iftikhar Ahmed Khan, Chief Financial Officer and Company Secretary -Ghandhara Industries Limited added,
This alliance will help us to combat soaring unemployment in the country by providing self-employment opportunities to the youth and the underprivileged.
Through this alliance, JS Bank is helping drive growth within the domestic transportation and logistics industry keeping in view the increased demand for commercial vehicles in Pakistan’s growing economy, especially in the backdrop of the China-Pakistan Economic Corridor (CPEC).