KARACHI: InfraZamin Pakistan Limited (InfraZamin) and ITMinds Limited (ITMinds), a wholly owned subsidiary of Central Depository Company of Pakistan Limited (CDCPL), have signed an agreement enabling ITMinds to provide Back Office Accounting Services to InfraZamin.

The agreement was signed by Maheen Rahman, CEO-InfraZamin and Iqleem-uz-Zaman Khan, CEO-ITMinds in the presence of Badiuddin Akber, Director-ITMinds and CEO-CDCPL, Waqas Ashraf CFO-ITMinds, Khusro Iqbal Mumtaz, Chief Risk Officer-InfraZamin and other management team members from both the sides.

InfraZamin is licensed to act as an investment finance company and is an initiative by the Private Infrastructure Development Group (PIDG), including PIDG group companies InfraCo Asia Investments (InfraCo Asia) and GuarantCo Limited (GuarantCo), in partnership with non-profit Karandaaz Pakistan (Karandaaz) to establish a for-profit, credit enhancement facility for raising infrastructure-related debt in Pakistan.

Commenting on the occasion, Maheen Rahman, CEO-InfraZamin, said that we look forward to working with ITMinds under this arrangement which will enable the InfraZamin team to focus on our core business function of credit guarantees.—PR

Copyright Business Recorder, 2021