ISLAMABAD: Mobilink Bank and Yango Pakistan have partnered to offer eligible Yango partner drivers and couriers access to Shariah-compliant vehicle and handset financing, embedded Takaful protection and digital banking services.
The partnership is aimed at expanding financial access for gig-economy workers by combining financing, protection, payments and banking services in one ecosystem tailored to drivers’ earning needs.
Under the arrangement, eligible drivers identified by Yango Pakistan will be able to access Car Diminishing Musharakah financing of up to Rs5 million.
Murabaha financing will also be available for motorcycles, e-bikes, rickshaws and handsets, while rickshaw, motorcycle and handset financing may be offered under applicable corporate guarantee arrangements.
The financing package will include complimentary embedded Takaful coverage for eligible financed customers during the financing tenure.
According to the companies, the coverage will include income protection, hospitalisation benefits, maternity benefits for eligible women borrowers and protection in cases of accidental death or permanent disability.
Vehicle Takaful and other asset-protection options will also be available under the partnership.
Mobilink Bank President and CEO Haaris Mahmood Chaudhary said many workers in Pakistan’s growing gig economy still remain outside formal financial services.
“Through this partnership, we are giving ride-hailing drivers access to Shariah-compliant financing, protection and digital banking tools that can strengthen their livelihoods and support sustainable growth,” he said.
Yango Pakistan Country Head Miral Sharif said access to financing and protection could directly affect drivers’ ability to invest in the vehicles and equipment they depend on for income.
“For a driver, a vehicle is not simply an asset — it is the foundation of their earning potential,” he said.
Eligible Yango partner drivers and couriers will also gain access to Mobilink Bank’s digital banking and payment services, including digital account opening, Business Plus Account benefits, Raast QR payments and a dedicated Driver QR for fare collection.
The partnership will also include select connectivity and handset-related benefits for participating drivers.
Also Read: Mobilink Bank Wins Three FinanceAsia Awards, Named Pakistan’s Best Digital Bank
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