Al Malik teams up with Stanbic
Feb 23, 2009
AL Malik Group, an importer of Japanese vehicles, has been accredited as one of Stanbic Bank’s Vehicle and Asset Financing dealers.
By Kiganda Ssonko
AL Malik Group, an importer of Japanese vehicles, has been accredited as one of Stanbic Bank’s Vehicle and Asset Financing dealers.
Stemmet Hentie, the head of Stanbic’s Vehicle and Asset Finance Department, said Al Malik won the accreditation after meeting the criteria.
“Requirements for accreditation include a modern showroom, guaranteeing availability of spare parts, carrying out pre-delivery services and a guarantee of 1,500kms or a month on the engine and gear box,†Hentie said in Kampala.
Under the arrangement, Stanbic will provide loans for the vehicles. A client is required to deposit at least 20% of the price and pay the balance in 30-48 months as the car is being used. The vehicles undergo comprehensive mechanical inspection and extensive servicing before being sold.
Al Malik’s boss, Malik Azhar, said the high exchange rate of the yen against the dollar had slightly pushed the prices up.
AL Malik Group, an importer of Japanese vehicles, has been accredited as one of Stanbic Bank’s Vehicle and Asset Financing dealers.
Stemmet Hentie, the head of Stanbic’s Vehicle and Asset Finance Department, said Al Malik won the accreditation after meeting the criteria.
“Requirements for accreditation include a modern showroom, guaranteeing availability of spare parts, carrying out pre-delivery services and a guarantee of 1,500kms or a month on the engine and gear box,†Hentie said in Kampala.
Under the arrangement, Stanbic will provide loans for the vehicles. A client is required to deposit at least 20% of the price and pay the balance in 30-48 months as the car is being used. The vehicles undergo comprehensive mechanical inspection and extensive servicing before being sold.
Al Malik’s boss, Malik Azhar, said the high exchange rate of the yen against the dollar had slightly pushed the prices up.