Faysal Bank and CDC signs MoU for Efficient Payment Mechanism

Faysal Bank Limited and Central Depository Company of Pakistan Limited (CDC) have entered into an agreement for implementation of CDC’s Efficient Payment Mechanism (EPM) through Cash Management payment services of Faysal Bank. This agreement signing ceremony was recently held at the CDC House in the presence of senior management of both organizations.

Mr. Yousaf Hussain, President & CEO – Faysal Bank speaking at the occasion said, “We are delighted to partner with CDC in line with our resolve to digitize payments in order to improve overall efficiency. It is coherent with Faysal Bank’s strategy to offer cutting-edge solutions which mutually benefits both the bank and our esteemed clients. This collaboration is a testament to our on-going partnership with CDC, whereby in June 2017we jointly created history for first-ever electronic IPO (eIPO).”

Mr. Badiuddin Akber,CEO-CDC while congratulating Faysal Bank for integrating with CDC’s Efficient Payment Mechanism said. “This agreement is consistent with CDC’s renewed focus on digitalization and initiatives to increase ease of doing business. I have full confidence in a mutually beneficial business relationship with Faysal Bank that would add value to the CDC payments being done on behalf of Asset Management Companies (AMCs).”

Picture Caption (From L to R): Syed Majid Ali, CFO – Faysal Bank, Mr. Ali Waqar, Head Corporate and Investment Banking–Faysal Bank, Mr. Yousaf Hussain, President & CEO – Faysal Bank, Mr. Badiuddin Akber, CEO – CDC and Mr. Abdul Samad, COO – CDC at the MoU signing ceremony for Cash Management payment services.

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