Islamabad, Dec 3: Awwal Modaraba Management Company was purchased by Wasl Investment Finance from Pak-Brunei Investment Company. Awwal is in charge of First Prudential Modaraba, one of Pakistan’s first modarabas.
Wasl benefits from this agreement as it works to finance electric vehicles and encourage sustainable development. Electric two-wheelers are becoming more popular in cities due to their low operating expenses, but the hefty initial cost is still a deterrent. Wasl provides easily accessible financing options in an effort to remedy this.
Wasl CEO Faraz Zaidi stated, “This acquisition puts us in a position to lead Pakistan’s transition to sustainable transport.” Chief Investment Officer Saif Tariq, meantime, stated that this transaction will enhance the business’s capacity to generate capital and enhance borrower experiences.
