KARACHI: Meezan Bank, the largest Islamic bank in Pakistan, and Amreli Steels Limited have joined hands to streamline dealers collections.
Under this transaction banking agreement, Meezan Bank, through the provision of its state-of-the-art online banking solution, named eBiz+, will enable Amreli Steels to fully automate its dealer collections, a statement said on Tuesday.
The partnership will further create value for Amreli Steels by serving as an end-to-end transaction banking solution delivering standardized reporting, greater safety and efficiency.
The agreement was signed by M. Saqib Ashraf – Head of Transaction Banking, Meezan Bank and Taha Umer – Financial Controller, Amreli Steels Limited. Also present at the occasion were Senior Executives of both organizations including Abdullah Ahmed – Group Head, Corporate & Institutional Banking, Meezan Bank, Amanullah Shaikh – General Manager South, Corporate & Institutional Banking, Meezan Bank, Shayan Akberali – CEO, Amreli Steels Limited and Fazal Ahmed – CFO & COO, Amreli Steels Limited.
Abdullah Ahmed, while speaking at the occasion said, “It is a pleasure to on-board Amreli Steels as a Transaction Banking customer.
Meezan Bank has always been a futuristic institution that aims to create even more attractive offerings to facilitate its customers.
At Meezan, we realize that corporations of all sizes need creative cash management strategies to support their operations and we are glad that Amreli Steels has taken this initiative.”
Shayan Akberali also commended the Bank for successfully launching cash management services and bringing forth operational efficiency in their collections process.