Qist Bazaar has marked five years of operations, growing from a startup launched in 2021 into a Shariah-compliant installment financing platform with more than 100 branches across over 18 cities in Pakistan. The company has financed products worth more than PKR 15 billion while maintaining bad debt below 4%, highlighting its approach to expanding financial access alongside credit discipline.
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As of October 29, 2026, the company says it has remained profitable since its launch and made essential household products accessible to hundreds of thousands of Pakistani families.
Backed by Bank Alfalah and venture capital firms including Indus Valley Capital and Gobi Partners, Qist Bazaar has processed more than one million applications nationwide.
Financing Essential Household Products
Founded in 2021, Qist Bazaar provides installment financing for products such as smartphones, laptops, refrigerators, washing machines, motorcycles and solar solutions.
Its business model prioritises household necessities over discretionary purchases, distinguishing it from conventional Buy Now, Pay Later services that may encourage spending on non-essential items.
The company attributes its bad debt level of below 4% to disciplined product selection, community-based customer relationships and credit assessment. Its approach focuses on customers who have often been underserved by traditional financial institutions, while seeking to maintain responsible lending practices.
The company’s performance challenges the assumption that serving lower-income and financially underserved communities must necessarily involve higher credit risk.
Taking Financial Inclusion Into Local Communities
Qist Bazaar’s physical branch network is central to its operating model, allowing the company to engage directly with customers in the communities it serves.
From Androon-e-Lahore to Karachi’s Korangi neighbourhoods, its branches and weekend mohalla exhibitions bring financing opportunities closer to households.
Local branch managers play an important role by combining knowledge of their communities and personal relationships with technology to assess customers, build trust and support responsible repayments.
This neighbourhood-based approach is intended to help the company better understand customers’ financial circumstances while making installment financing more accessible.
Retail Partnerships to Expand POS Financing
Building on its branch network and customer data, Qist Bazaar 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 retail outlets.
By integrating financing into the retail purchasing process, the company aims to establish an additional distribution channel without relying solely on opening more branches. The approach could also broaden its reach through existing retailer and distributor networks.
Arif Lakhani Highlights Community-Based Lending
Arif Lakhani, Co-Founder of Qist Bazaar, said understanding customers’ financial realities requires direct engagement with the communities they serve.
He emphasised that the company had deliberately chosen to finance necessities rather than luxuries, combining this focus with a community-driven model to keep bad debt below 4%.
Lakhani said the company’s experience demonstrated that financial inclusion and commercial discipline could work together. He also expressed pride in the team’s achievements over the past five years, while describing the business as being at an early stage of its broader growth ambitions.
The company’s tagline, “Necessities First, Payments Later,” reflects its stated emphasis on essential purchases and accessible installment financing.
Outlook: Scaling Financial Inclusion Through Technology and Retail
Qist Bazaar’s five-year milestone highlights the growth of an alternative financing model built around essential products, physical community engagement and Shariah-compliant installment payments.
With more than PKR 15 billion in financing, over 100 branches and plans to expand POS partnerships, the company is seeking to reach more customers through both its existing network and third-party retailers.
Its ability to sustain responsible repayments, preserve profitability and expand access to financing will remain important as it scales its operations across Pakistan.