Qist Bazaar is marking five years of business after growing from a startup into a prominent Shariah-compliant installment financing platform in Pakistan. The firm now operates more than 100 branches across over 18 cities, supplying essential household items to hundreds of thousands of local families while staying profitable since its launch.
Established in 2021, the business has financed more than PKR 15 billion in goods such as smartphones, laptops, refrigerators, washing machines, motorcycles, and solar solutions. Supported by Bank Alfalah along with venture capital firms Indus Valley Capital and Gobi Partners, the enterprise has handled over one million applications across the country.
Necessities First, Payments Later
Unlike standard Buy Now, Pay Later systems that typically push discretionary purchases, Qist Bazaar concentrates on essential goods instead of luxury items.
Such disciplined inventory choices, paired with a community-focused strategy for client relationships and credit evaluation, allowed the organization to keep bad debt under 4 percent, even while financing clients who are largely ignored by conventional banks.
These outcomes defy the belief that supporting grassroots populations automatically leads to higher credit risk.
Taking Financial Inclusion to the Neighborhood
The unique advantage of Qist Bazaar is its physical footprint inside the neighborhoods it supports. Operating from the historic streets of Androon-e-Lahore to the busy neighborhoods of Korangi, company branches and weekend mohalla exhibitions deliver financing straight to buyers.
Local branch managers are vital, blending neighborhood familiarity and personal ties with technology to foster trust, evaluate buyers, and encourage responsible repayments.
The Next Chapter: Expanding Through Retail Partnerships
Drawing on its existing branch network and client data, Qist Bazaar is currently growing its Point-of-Sale partnerships alongside independent retailers and distributors.
Starting with laptops and phones, the program brings Qist Bazaar financing straight to participating shops, establishing a fresh distribution channel independent of pure branch growth.
Arif Lakhani, Co-Founder of Qist Bazaar, stated:
"You cannot understand a household's financial reality sitting in a boardroom. You have to be in the neighborhoods, understand the people, and earn their trust. We made a conscious decision five years ago to finance necessities, not luxuries. Combined with our community-driven model, this has helped us keep bad debt below 4%, proving that financial inclusion and commercial discipline can go hand in hand. I am incredibly proud of what our team has achieved, but it feels like we are only getting started. Necessities First, Payments Later. That's not just our tagline. It's how we do business."
