ISLAMABAD—U Microfinance Bank (U Bank) and Yousuf Dewan Companies have entered into a strategic collaboration to leverage their combined strengths to provide innovative financing options for customers, making the ownership of electronic vehicles more accessible and affordable.

Under this partnership, Yusuf Dewan Companies’ customers will benefit from exclusive loan offerings and bundled services for the ownership of Honri and KIA electronic vehicles, including insurance coverage and registration facilities.

The Memorandum of Understanding was signed recently in Islamabad by Mr. Mohamed Essa Al Taheri, President & CEO of U Bank, and Mr. Dewan Mohammad Yousuf Farooqui, Chairman of Dewan Group, in the presence of senior management members of both organizations.

At the signing ceremony, Mr. Mohamed Essa Al Taheri, President & CEO – U Bank commented, “We are thrilled to partner with Yousuf Dewan Companies to facilitate innovative financing solutions for customers interested in EVs. This collaboration is a significant step towards enhanced accessibility to cost-effective mobility means and will ultimately contribute to a greener future. By combining our financial expertise with Yousuf Dewan Companies’ strong market presence, we are confident in further driving technological and financial innovations that benefit all stakeholders.”

At the event, Mr. Dewan Mohammad Yousuf Farooqui, Chairman of Dewan Group, said, “This partnership with U Microfinance Bank marks a significant milestone for us in our mission to provide easy financing solutions. By making it more accessible for people to own EVs and commercial vehicles, we are enhancing individual mobility and contributing to the broader goal of a more sustainable future. Our collaboration with U Bank is a testament to our commitment to driving innovation and making impactful strides in the automotive industry in Pakistan.”