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DIB Pakistan and Shahnawaz (Pvt.) Limited (Mercedes-Benz) Sign Strategic Alliance

Mercedes Signing

PRESS RELEASE

DUBAI ISLAMIC BANK PAKISTAN AND SHAHNAWAZ (PVT.) LIMITED (MERCEDES-BENZ) SIGN STRATEGIC ALLIANCE

Karachi, October 30, 2017 – Dubai Islamic Bank (DIB), World’s First Islamic Bank and Shahnawaz (Pvt.) Limited, authorized general distributor of Mercedes-Benz in Pakistan, have entered into a strategic alliance agreement.

This initiative will help in establishing Dubai Islamic Bank Pakistan as the preferred financial services partner for Mercedes-Benz in the country, which itself is a symbol of product excellence, customer services & satisfaction in Automobile world.

The signing ceremony was held at Dubai Islamic Bank Head Office Karachi in the presence of senior officials from both organizations including Mr M Naeem (CEO Shahnawaz (Pvt.) Limited), Mr Naseem Shaikh (Director & General Manager, Shahnawaz (Pvt.) Limited) and Mr Junaid Ahmed (CEO, Dubai Islamic Bank Pakistan).

“This is an exceptional and unparalleled auto finance offering through which we can provide high net worth clientele to achieve their dream of driving their own technologically advanced state-of-the-art vehicle” said Mr. Junaid Ahmed, CEO of Dubai Islamic Bank Pakistan.

“Dubai Islamic Auto Finance is a flagship consumer finance product of the bank and an obvious choice for Mercedes-Benz financing. We firmly believe this strategic alliance will play an instrumental role in providing the best possible services to our customers” said Mr M Naeem, CEO Shahnawaz (Pvt.) Limited.

About Dubai Islamic Bank Pakistan

Dubai Islamic Bank Pakistan Limited (DIBPL) is a wholly-owned subsidiary of Dubai Islamic Bank UAE (DIB), the world’s first Islamic Bank. The parent company DIB is a listed company in Dubai. DIBPL commenced operations in Pakistan as a scheduled Islamic Commercial Bank on March 28, 2006. As a Minimum Capital Requirement (MCR) compliant Bank, the DIBPL enjoys a short-term credit rating of ‘A-1’ and long-term credit rating of ‘AA-’ with a “stable” outlook, from JCR-VIS, indicating the bank’s robust position in the industry.

DIBP has always endeavoured to provide innovative financial products and services to our customers through our growing network of over 243 locations (200 Branches and 43 Branchless Booths) across 62 cities in Pakistan. DIBPL continues to reaffirm its commitment of World Class Banking expertise with the largest Shari’a compliant product suite in Retail, Corporate, Consumer, Trade, Commercial, Treasury and Investment Banking services across Pakistan

About Shahnawaz (Pvt.) Limited

Shahnawaz (Pvt.) Limited has been operating in market since 1948, as authorized general distributor for Mercedes-Benz and has built a solid reputation for high quality products, immaculate & pristine service standards with state of the art facilities in the automobile industry of Pakistan.