The United Bank Limited (UBL) and the National Telecommunication Corporation (NTC) on Thursday entered into an agreement on cash management. NTC chairman Rear Admiral Shahid Farooq SI (M), Member Finance Neelam Ali, UBL corporate head Mansoor Khan and UBL cash management/FIG head Faraz Haider signed the agreement. The NTC has taken a leap forward in current business environment by outsourcing collections and data processing services to achieve efficiency and effectiveness.
The UBL being one of the pioneer's in providing data processing and fund management services is enduring similar services to other corporate entities with a higher degree of accuracy.
Under this agreement, UBL will collect data from designated collecting branches of the banks on daily basis and will process all stubs and scrolls at its processing centre in Lahore.
The ceremony was also attended by NTC executives Shahid Bangash, Sardar Azmat Shafi, Hafeez Abbasi, Adnan Khan, and from the UBL, Khurram Gul Agha, Niaz Toru and Waseem Chaudhry.