Unilever launched a direct debit receivables solution structured by Citibank N.A., Pakistan. The cash management solution enables Unilever to initiate fund collection from Pakistan's four largest banks - UBL, Habib Metropolitan, Meezan Bank and Allied Bank Limited - using Citi's award winning electronic banking platform, CitiDirect.
The launch ceremony was held at Citi Pakistan's new head office at the Harbor Front Building. Nadeem Lodhi CCO & MD Citibank N.A., Pakistan along with Ali Tariq CFO Unilever Pakistan were present at the ceremony which was also attended by all stakeholders from Unilever, Citi as well the representatives of the banking partners of the bank.
The Direct Debit collection is a tailor-made comprehensive solution that will automate and streamline a core part of Unilever Pakistan's business with its extensive network of vendors across Pakistan covering rural as well as urban areas.
"Pakistan's volatile business environment poses a challenge for us to carry out undisrupted cash collection. This system will bring in tremendous flexibility for all stakeholders by leveraging Citi's technology and our partner banks' nation-wide footprint" said Ali Tariq, CFO of Unilever Pakistan.
"We are proud of our partnership with Unilever Pakistan and are committed to delivering our clients with world class solutions and services that will enhance their operational efficiency in line with their growth strategy," commented Nadeem Lodhi.-PR
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