ITMinds, FAML sign agreement

KARACHI: Faysal Asset Management Limited (FAML) and ITMinds Limited, a wholly-owned subsidiary of the Central Depository Company of Pakistan Limited, have signed an agreement, enabling ITMinds to provide Back Office Accounting Services to FAML, a statement said on Monday.

Khaldoon Bin Latif, CEO of FAML, and Iqleem-uz-Zaman Khan, acting CEO of ITMinds, signed the agreement in the presence of Badiuddin Akber, director of ITMinds and CEO of CDC, it added.

Through this arrangement, ITMinds will facilitate FAML in concentrating on its core business activities, ie, managing investors’ money and savings, by providing back office accounting services, including settlement, unit management, fund accounting, facilitation for compliance / reporting, business continuity and IT arrangements.