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.