Faysal Bank has entered into an agreement to finance its customers to buy groceries in instalments at zero markup. The bank has signed an agreement with retail chain Naheed Pakistan to offer groceries on instalments with zero markup.
The partnership aims to improve the payment cycle for Faisal Bank’s merchant partners while facilitating payments for Faisal Bank’s customers through Naheed Pakistan. Naheed benefits from higher conversion rates, better average order value, and increased sales by offering instalments at checkout.
This facility can be availed by all customers of Faisal Islami Noor Card at 0% interest rate. This collaboration is for the first time in Pakistan that consumers can get Sharia instalment financing on grocery purchases, bringing more convenience and ease to their lives. Customers can avail financing at a minimum outlay of Rs. 25000/- with Naheed.
The partnership aims to improve the payment cycle for Faisal Bank’s merchant partners while facilitating payments for Faisal Bank’s customers through Naheed Pakistan. Naheed benefits from higher conversion rates, better average order value, and increased sales by offering instalments at checkout.
Feroze Khan, Head Unsecured Business & Payment Services, Consumer Finance, Faisal Bank expressed his excitement about the partnership,
“This partnership is a testament to our vision of empowering customers with Shariah Compatible flexible financing options. This product will also support merchants to get more sales during this period of continued economic uncertainty.”
FBL holds the highest domestic Shariah rating of SCFR1 by the International Islamic Rating Agency (IIRA) and provides the best and widest range of Shariah compliant banking products and services to conveniently meet the Halal banking needs of its customers. does. With a growing network of 700 Islamic branches, Faisal Bank has a presence in more than 270 cities/towns across Pakistan.
