Mobilink Bank and Yango Partner to Offer Shariah-Compliant Financing and Insurance to Drivers.
✧ GENERATE BRIEFING +
Mobilink Microfinance Bank and ride-hailing technology platform Yango Pakistan have signed a strategic agreement to provide registered partner drivers and couriers with Shariah-compliant asset financing, embedded Takaful coverage, and integrated digital financial services. The partnership offers financing of up to PKR 5 million via Car Diminishing Musharakah alongside Murabaha financing for motorcycles, e-bikes, rickshaws, and handsets. By bundling vehicle financing with built-in insurance protection, digital payments, and banking tools, the collaboration aims to enhance financial inclusion and asset ownership across Pakistan’s gig economy.
Digital microfinance institution Mobilink Bank and Yango Pakistan, a business unit of the global technology firm Yango Group, have announced a strategic partnership to deliver Shariah-compliant asset financing, embedded Takaful protection, and inclusive digital banking services to Yango’s registered partner drivers and couriers.
The joint initiative integrates banking, protection, digital payment rails, and mobile connectivity into a single ecosystem designed to support ride-hailing workers in acquiring and maintaining core productive assets.
Core Financing and Asset Offerings
The product suite offers structured financial modes tailored to diverse transport and technology requirements:
- Car Diminishing Musharakah Financing: Provides eligible drivers with vehicle financing up to PKR 5 million.
- Asset Murabaha Financing: Covers motorcycles, e-bikes, auto-rickshaws, and smartphones under pre-agreed markup terms and corporate guarantee arrangements.
- Embedded Takaful Protection: Financed drivers receive complimentary coverage throughout their tenure, including vehicle Takaful, accidental death or permanent disability coverage, income protection, and dedicated hospitalization and maternity benefits for female borrowers.
Digital Payment Integration and Ecosystem Support
Beyond physical asset financing, partner drivers gain access to Mobilink Bank’s digital financial infrastructure. Services include:
- Streamlined digital account onboarding
- Mobilink Bank Business Plus Account access
- Dedicated Driver QR codes and Raast QR payment options for fare collections
- Bundled telecom connectivity and handset options
Executive Perspectives
Speaking on the agreement, Haaris Mahmood Chaudhary, President & CEO of Mobilink Bank, stated:
“Pakistan’s gig economy is creating a new generation of entrepreneurs, yet many 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.”
Miral Sharif, Country Head for Yango Pakistan, added:
“For a driver, a vehicle is not simply an asset — it is the foundation of their earning potential. Access to appropriate financing and protection can therefore have a direct impact on their ability to work and grow. Our partnership with Mobilink Bank brings these solutions closer to eligible partner drivers, while giving them greater flexibility to invest in the tools they rely on every day.”
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