Qist Bazaar Marks Five Years, Reports Over Rs15 Billion in Financing

The Shariah-compliant installment platform says it has served hundreds of thousands of families and plans to expand financing through retail partnerships.

Qist Bazaar has completed five years of operations, reporting more than Rs15 billion in product financing, over 100 branches and a presence in more than 18 cities across Pakistan.

Founded in 2021, the company provides installment financing for essential household products, including smartphones, laptops, refrigerators, washing machines, motorcycles and solar solutions. It says it has processed more than one million applications nationwide while remaining profitable since its launch.

Backed by Bank Alfalah and venture capital firms Indus Valley Capital and Gobi Partners, Qist Bazaar focuses on financing everyday necessities rather than luxury purchases. The company says this approach helps it serve households that have limited access to traditional financial services.

According to the company, its bad debt rate has remained below 4%. Qist Bazaar attributes this performance to its product selection, community-based customer relationships and local credit assessment practices.

The company also relies on its physical branch network to reach customers in local communities. Its branches and weekend neighbourhood exhibitions bring financing services closer to households in areas ranging from Androon-e-Lahore to Korangi in Karachi.

Qist Bazaar says local branch managers play an important role in assessing customers, building relationships and supporting responsible repayments. The model combines local knowledge with technology to serve customers who may be underserved by conventional financial institutions.

As it enters its next phase of growth, the company is expanding its point-of-sale (POS) partnerships with independent retailers and distributors. The initiative will initially focus on smartphones and laptops, allowing customers to access Qist Bazaar financing directly at participating outlets.

The company expects this channel to broaden its reach without depending solely on opening more branches.

Arif Lakhani, co-founder of Qist Bazaar, said the company’s approach centres on understanding the financial needs of households and building trust within the communities it serves.

He said the decision to prioritise necessities over luxury purchases, alongside its community-driven model, had helped the business combine financial inclusion with commercial discipline.

Qist Bazaar says its next phase will build on its existing branch network, customer data and retail partnerships as it seeks to expand access to installment financing across Pakistan.