UBL Fund Managers Limited (UBL Funds) and Samba Bank Limited have entered into an agreement enabling a distribution alliance of UBL Funds' products through Samba Bank Limited. The signing ceremony was held at Samba Bank's Head Office in the presence of Shahid Sattar, President & CEO Samba Bank Limited, and Mir Muhammad Ali, CEO UBL Funds.
UBL Fund Managers Limited is one of the leading asset management companies in Pakistan, offering savings and investment solutions to institutional and individual clients. Samba Bank Limited is a majority-owned subsidiary of Samba Financial Group of Saudi Arabia.
Speaking at the occasion, Mir Muhammad Ali, CEO UBL Funds, said "This strategic business alliance will benefit both entities. The diversified portfolio of mutual funds will not only improve our market share, but also help us grow the asset management industry in Pakistan. The venture is equally beneficial for Samba Bank as they can now offer a variety of Islamic and conventional mutual funds for their customers"
Shahid Sattar, President & CEO Samba Bank, said "The agreement will allow us to facilitate our valued customers. Currently, we are working to expand our products and services across the consumer, corporate, investment banking and global markets. And, by partnering with one of Pakistan's leading asset management companies, we will be able to provide our customers short-term and long-term investment opportunities."-PR
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