KARACHI: Standard Chartered Bank (Pakistan) has signed an agreement with Oasis Travel for Small and Medium Enterprises (SME) cash management services, a statement said on Tuesday.
Under the arrangement, the bank will provide a comprehensive payment and collection solution.
The payment solution will be made available through the banks electronic banking platform, Straight2Bank.
It is a tool to efficiently execute and monitor cash management, foreign exchange and trade finance activities.
It also offers a wide range of payment solutions on a single platform.
This includes transfers, corporate cheques, pay orders, payroll and telegraphic transfers.
“Standard Chartered, consistent with our brand promise of being here for good for our clients, offers banking solutions and products that greatly enhance our clients’ operational efficiency,” said Aalishaan Zaidi, Head of Consumer Banking, Standard Chartered Bank.
“This is one of its kind cash management solutions to meet present and future needs of all small and medium enterprises,” said Zaidi.
Standard Chartered Bank in Pakistan has developed its franchise to the point where it is now among the top local players.
The bank branch network has grown from 115 branches in 22 cities in January 2007 to 162 branches in 41 cities of the country during the current year, employing a workforce of more than 5,000 people.
Oasis Travels (Pvt) Limited has a history of over 20 years for providing services to travelers.
The company is ranked as the top three in travel companies operating in Pakistan and providing a full range of travel products to business, leisure and religious travelers, the statement added.