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Recently, it has been reported in Financial Times that Intel Corp is collaborating with Pakistan Islamic bank, Meezan in order to offer the consumers their first large-scale hire purchase scheme for personal computers. This will increase the market share for Intel Corp in Pakistan and will establish its position strongly. Since Islamic banking is involved, Intel is to comply with sharia or Islamic law.
Meezan has been reported to have signed such hire-purchase deals for computers with 400 people within a short period of time since its launch in May this year. The reason for its success is its promotional and effective advertisements at various Pakistani universities. With the computers installed and technological facilities increasing in every educational institution in the country, the deal is beneficial not just in terms of giving the people what they want, but also the companies involved their benefits.
Meezan is looking to expand further seeing the success it has achieved in a short time by signing 3,000 more such agreements by the end of the next year. On the other hand, Intel is forecasting its quarterly revenue at more than what Wall Street expects. This achievement by Intel is despite the fact of the rapid market growth for tablets. In countries like Pakistan, personal computers still hold much value and are more affordable than getting tablets installed. Hence, Intel has made a wise decision for its business in this part of the world market.
