Faysal Bank, CDC sign accord

KARACHI: Faysal Bank Limited and Central Depository Company of Pakistan Limited have entered into an agreement for implementation of CDC’s efficient payment mechanism through the bank’s cash management payment services, a statement said on Tuesday.

The agreement signing ceremony was recently held at the CDC House in the presence of senior management of both organisations.

“We are delighted to partner with CDC in line with our resolve to digitise payments in order to improve overall efficiency,” Yousaf Hussain, president of Faysal Bank said. “It is coherent with Faysal Bank’s strategy to offer cutting-edge solutions which mutually benefits both the bank and our esteemed clients. This collaboration is a testament to our on-going partnership with CDC, whereby in June 2017 we jointly created history for first-ever electronic IPO.”

Badiuddin Akber, chief executive officer of CDC said the agreement is consistent with CDC’s renewed focus on digitalisation and initiatives to increase ease of doing business.