Yango and Mobilink Bank Partner to Expand Shariah-Compliant Financing for Drivers

Yango Pakistan has partnered with Mobilink Bank to expand access to Shariah-compliant financing for eligible drivers and couriers across Pakistan.

Yango Pakistan operates as part of global technology company Yango Group. Mobilink Bank is one of Pakistan’s digital microfinance banks. The new partnership aims to improve financial inclusion by providing financing, Takaful protection, digital banking and payment services through an integrated platform.

The collaboration recognizes vehicles as essential earning assets for ride-hailing drivers. It combines financing and financial services to help drivers manage their businesses and strengthen their earning potential.

Financing for vehicles and handsets

Under the partnership, eligible Yango drivers can access Car Diminishing Musharakah financing of up to PKR 5 million.

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Mobilink Bank will also offer Murabaha financing for motorcycles, e-bikes, rickshaws and handsets. Applicable Corporate Guarantee arrangements will support financing for selected rickshaw, motorcycle and handset options.

The initiative gives drivers access to financial products that match their day-to-day work requirements. It also aims to reduce barriers for independent earners who often face limited access to formal financial services.

Takaful protection included

Eligible customers who receive financing will also get complimentary embedded Takaful coverage during the financing period.

The protection package includes income protection, hospitalization and maternity benefits for eligible women borrowers. It also covers accidental death or permanent disability.

Customers can additionally access Vehicle Takaful and other asset-protection solutions.

Yango seeks stronger driver ecosystem

Yango Pakistan Country Head Miral Sharif said a vehicle represents more than an asset for a driver because it forms the foundation of their income.

She said suitable financing and protection could directly support drivers’ ability to work and grow. The partnership with Mobilink Bank, she added, would bring these services closer to eligible Yango partners.

Mobilink Bank President and CEO Haaris Mahmood Chaudhary said Pakistan’s growing gig economy was creating new opportunities for entrepreneurship and employment.

He noted that many independent earners still remain underserved by formal financial institutions. The partnership aims to give ride-hailing drivers access to financing, protection and digital financial services.

Digital banking and payment services

Eligible Yango drivers and couriers will also gain access to Mobilink Bank’s digital banking and payment ecosystem.

Services include digital account onboarding, Business Plus Account benefits, Raast QR payments and a dedicated Driver QR for fare collection. Selected connectivity and handset benefits will also form part of the offering.

The partnership brings financing, protection, banking and digital payments together in one ecosystem. Both companies said the initiative would support drivers as they invest in the tools needed to earn and grow their livelihoods.