KARACHI: Soneri Bank has announced a special collaboration with MG Motors Pakistan, offering both conventional and Islamic financing facility. With the financing rate starting from a rate of 1 Year KIBOR + 2 percent, Soneri Bank and MG financing offer insurance rate of 1.5 percent with tracker,100 percent waiver in processing fee and 100 percent waiver in early settlement and balloon payment penalty. The offer is available on select MG models including the MG HS and MG HS Plug-in Hybrid Electric Vehicle (PHEV). Syed Asif Ahmed, General Manager, Marketing Division, MG Motors Pakistan, said: “This partnership with Soneri Bank further strengthens our vision of making premium mobility accessible for more people in Pakistan. Customers now have the opportunity to enjoy MG vehicles, while benefiting from the industry’s lowest financing rates in a fully Shariah-compliant manner," he added. Copyright Business Recorder, 2025