Meezan Bank Limited has signed a transaction banking agreement with Dawlance Pvt Ltd for automated collections of its sales through Meezan Bank's state-of-the-art, web-based electronic solution. Under the agreement, Meezan Bank will deploy an end-to-end, tailor-made Collections Solution to facilitate the largest Dealer network of Dawlance.

A formal ceremony was held recently, at the Dawlance head office, where the CEO of Dawlance Umar Ahsan Khan and CFO Farhan Akram signed the agreement. While, on behalf of Meezan Bank SEVP & Group Head of Corporate & Institutional Banking Muhammad Abdullah Ahmed, EVP & General Manager of South Corporate & Institutional Banking Amanullah Shaikh along with Muhammad Saqib Ashraf EVP& Head of Transaction Banking Corporate & Institutional Banking were the signatories.

As per the agreement, Meezan Bank will provide Transaction Banking Services to Dawlance through its fully automated transaction banking solutions offering customized instruments and services designed to manage the company's incoming and outgoing cash flows, commerce and asset management.

Speaking at the occasion, Abdullah Ahmed said: "Meezan Bank focuses on providing end-to-end transaction banking solutions in order to deliver standardized reporting, value-added services and efficient and safe services. This agreement is a testimony of the Bank's expertise in the field of Transaction Banking through which it is offering its customers digitalized collections solutions for a hassle-free banking experience.

On the occasion, Dawlance CFO Farhan Akram said that it is a pleasure to collaborate with Meezan Bank, which will provide cash-management services to streamline sales network and financial operations.

"Meezan Bank's cash-management solution will greatly ease our dealer collection transactions. This initiative is part of our ongoing efforts to continually innovate while remaining focused on using the latest technologies to address the evolving needs of our enterprise," he added.

Dawlance is the technology-leader in Pakistan's home-appliances market and fully owned subsidiary of Arcelik, the largest Turkish white goods enterprise.