KARACHI: Meezan Bank will provide Corporate and Transaction Banking Services to Gani & Tayub (G&T) Group. Gani &T ayub (G&T) Group, country's leading group with companies across different sectors including Synthetic & Rayon and Power Generation, has embarked on an enterprise level digital journey with implementation of SAP for all areas of their operations including banking and finance.
Accordingly, after thorough evaluation Meezan Bank's Transaction Banking solution eBiz+ has met G&T's highest standards for host-to-host connectivity with SAP for payments and collections.
An agreement was hence recently signed by the management of respective entities represented by Rizwan Diwan Executive Director G&T Group, Shabbir Diwan Executive Director G&T Group and Muhammad Abdullah Ahmed Group Head Corporate & Institutional Banking and Muhammad Saqib Ashraf EVP& Head of Transaction Banking from Meezan Bank at G&T Tower, Karachi.
As per the agreement, Meezan Bank will provide its state-of-the-art Transaction Banking Solution (eBiz+) for payments and collections to the subsidiaries of G&T Group including Gatron (Industries) Limited and Novatex Limited. This core suite of integrated solutions will ensure efficient cash flow management and ease of reconciliation providing the G&T Group with operational excellence.
At the occasion, Rizwan Diwan shared G&T's ambition for developing G&T as a digital conglomerate signified by the implementation of SAP and appreciated Meezan's contribution as a banking partner in such an initiative.
Abdullah Ahmed said that as one of the major players in the industry, Meezan Bank is focusing largely on producing and delivering innovative cash management solutions to commercial and corporate businesses in Pakistan. "The addition of G&T Group to this growing portfolio is a monumental opportunity for us to offer streamlined cash flow processes via eBiz+ effectively automating transactions and thus, reducing the inherent risk of all the companies simultaneously", he added.
Copyright Business Recorder, 2021
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