Low interest: MCB to finance cars for judges

MCB representative said three per cent less than the market rate, would be charged under the scheme.

LAHORE: The Lahore High Court (LHC) and Muslim Commercial Bank (MCB) on Monday reached an agreement on car financing at low mark-up rates for court and judicial officers at grade-17 and higher. At a ceremony held in this regard, LHC Chief Justice (CJ) Umar Ata Bandial said, “Beauty lies in simplicity. Moderate and simple living is highly regarded in Islam.” The CJ handed over car keys to Sargodha District and Sessions Judge Abdul Sattar, who was the first applicant under the car financing scheme. MCB representative Ali Mubashar Kazmi said a competitive markup, three per cent less than the market rate, would be charged under the scheme. He said the MCB would also establish a branch at the LHC.

Published in The Express Tribune, February 26^th, 2013.