corporate corner

VPL appointed UD trucks importer in Pakistan

LAHORE (PR): UD Trucks is a leading Japanese total transport solution provider. UD Trucks was established in Japan in 1935, and became a part of the Volvo Group in 2007. UD Trucks has a long and proud history in Pakistan. UD Trucks (previously known as Nissan Diesel) was the first Japanese truck brand to enter the Pakistan market, and has since then continued to be one of the leading players in the country. UD Trucks are a familiar sight on the roads of Pakistan and hold a prominent position in the long-haulage and construction segments. UD Trucks Corporation is now planning to introduce their popular new heavy-duty truck model Quester in the Pakistan market for which they have appointed VPL Limited (VPL) as their authorised importer.

VPL is a leading importer of trucks, buses, construction & mining equipment, generators and tools in Pakistan with a country-wide after-sales support network. VPL is also the authorised importer of Volvo Trucks, Volvo Buses, Volvo Construction Equipment and Volvo Penta. VPL is part of the Panasian Group, which has been responsible for the Volvo business in Pakistan since the mid-1970s.

The UD Quester heavy-duty truck will be launched in the country soon. The plan is to enhance the experience and support for UD Trucks customers in Pakistan in both the sales and after sales dimensions.

World Islamic Finance Forum ends

KARACHI (PR): The second day of World Islamic Finance Forum (WIFF), which has ended, was well attended with thought provoking discussions amongst eminent international and local Islamic finance experts. Fintech is an absolute must for all Islamic finance players to expand outreach effectively and efficiently. Malaysian players shared their Fintech experience in terms of speedy of approval of consumer loans and fast KYC processes. Fintech can be instrumental in enhancing financial inclusion and shared prosperity. It is a strategy level decision which has to come from the top level and should not be left to the discretion of the head of IT. To build the brand, Islamic finance players will have to offer a value added proposition that goes beyond a faith based one only.

Speakers shared their experience of markets with a sizable non-Muslim population who was attracted to bank with Islamic financial institutions due to a cost effective, user friendly product. It is pertinent to mention that, particularly, in case if Bosnia this was achieved without an enabling regulatory framework. Value based intermediation was emphasised to benefit the customer, the organisation and the society at large. To complete the financial circle, regulator will have to play a proactive role in terms of ensuring that Islamic finance reaches out to underserved segments such as agri and finance. Collaborative models using Fintech can enable Islamic finance players to expand outreach. World bank and Islamic Development Bank experts are working on such initiatives. Pakistan is one of the six most populous Muslim nations in the world. “As a reservoir of future growth, we should take a lead in taking Islamic finance to the next level,” added Dr Ishrat, Chairman CEIF. 21 papers were presented by researchers from Indonesia, Brunei, Malaysia, Germany and Pakistan on diverse topics including Shari'al audit, Fintech, customer experience, performance of Shari'ah compliant stocks, litigation challenges faced by Islamic financial institutions, risk management, fund management, liquidity management, Waqf based models, housing finance and takaful.


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