Wasl Investment Finance Buys Awwal Modaraba Management Company

Wasl Investment Finance has acquired Awwal Modaraba Management Company from Pak-Brunei Investment Company. Awwal oversees First Prudential Modaraba, a pioneering modaraba in Pakistan. This deal goes in Wasl’s favor as it tries to promote sustainable development and provide financing for electric vehicles. While electric two-wheelers gain traction in urban areas for their low running costs, high upfront prices remain a barrier. Wasl aims to address this by offering accessible financing solutions. “This acquisition positions us to drive Pakistan’s transition to sustainable transport,” said Wasl CEO Faraz Zaidi. Meanwhile, Chief Investment Officer Saif Tariq commented that this deal will help improve the company’s ability to create financial opportunities and improve borrower experiences. Wasl plans to leverage this move to expand its role in financing clean mobility solutions.