Allied Bank – Punjab Model Bazaars Management Company Agreement

Agreement Signing Ceremony between Allied Bank Limited and Punjab Model Bazaars Management Company, Industries, Commerce and  Investment Department, Govt. of Punjab  for  “Cash Collection and Management Services” was held today, Tuesday, 23rd May, 2017 at ABL’s Group Office, Kashmir Raod, Lahore.

This  real time Cash Collection and Management Services solution  is not only according to ABL’s Vision of modernization/digitization  in Banking Industry but also in line with the Punjab Government’s e-Vision.

The ceremony  was attended by Mr. Nasir Rafique, Chief Operating Officer and Mr. Naveed Rafaqat Ahmad , Chief Financial Officer  form PMBMC’s side. Mr. Shahid Amir, Chief – CRBG, North, Mr.  Faisal Nadeem Siddiqui, Chief DBG, Mr. Abid Anwar, Group Head-CRBG-North-1 and Mr. Faisal Rasheed Ghauri, Group Head-BSG North-1 from ABL’s side attended this ceremony.

Through this digitization initiative, Allied Bank in collaboration with Punjab Model Bazaars Company, Govt. of Punjab,  will provide real time high tech banking platform  to  6000 plus vendors of 27  Punjab Model Bazzars functional at the moment. It is expected that during a year’s time, approx. 10 more Model Bazaars will also become functional and vendors numbers may go to 10,000 plus.  This digitized arrangement   provides facility of   real time cash collection to the vendors of Punjab Model Bazaar through 1150 plus branches of ABL. Further,  these vendors will have the facility of  doing their transactions through  SMS banking as well.