Intel Corp is working with Pakistan Islamic bank Meezan to offer a large-scale hire-purchase scheme for personal computers as the technology company seeks to increase its market share in the country, a senior official of the Bank said on Wednesday. "In four months we have provided 400 laptops to the consumers with 3 to 24 months repayment schedule," said Muhammed Raza, head of consumer banking at Meezan Bank Ltd. "We are forecasting 200 to 250 laptops per month in 2012."
Working on laptop loans for Pakistan
The scheme called "Laptop Ease" is helping the bank keep existing customers and attract new customers, it said. "The increase in volume will also improve the profitability of our bank," said Raza. Intel could not immediately be reached for comment by Reuters outside regular U.S. business hours. On Tuesday, the Financial Times reported that the company is considering expanding the scheme, which will be compliant with sharia, or Islamic law, to other emerging markets. Also on Tuesday, Intel forecast quarterly revenue above Wall Street's expectations, defying concerns that tablets and a shaky economy are eating into demand for personal computers.
Published Date: Oct 20, 2011 10:05 am | Updated Date: Oct 20, 2011 10:05 am