PTCL to Provide State-of-the-Art Infrastructure to Mashreq Pakistan for Digital Banking

Tue May 21 2024
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ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) and Mashreq Pakistan, a branch of Mashreq, a leading financial institution in the MENA region, have entered into an agreement for primary data center colocation services at PTCL’s Tier-III Data Center facility.

In a ceremony held at PTCL Data Center II, Karachi, the agreement was signed by Mohamed Abdel Razek, Group Head of Technology, Transformation, and Information at Mashreq, Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan, and Umar Farooqi, Group Director Enterprise PTCL. Mashreq Pakistan’s Chief Information Officer, Khurram Abid, and PTCL’s Group Chief Business Services Officer, Zarrar Hasham Khan, were also present at the event.

Under this agreement, PTCL will provide Mashreq Pakistan with its state-of-the-art infrastructure and platform solutions, equipped with the latest technology and managed security features. Mashreq Pakistan, in turn, is progressing towards acquiring a restricted license from the State Bank of Pakistan to initiate pilot digital retail banking operations in the country.

Mohamed Abdel Razek expressed pleasure in partnering with PTCL, emphasizing its importance in Mashreq’s digital transformation strategy. He highlighted the significance of leveraging PTCL’s expertise in data center and telecommunications to enhance operating leverage and reduce time-to-market for products and services.

Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan, emphasized the bank’s commitment to exceeding customer and partner expectations through digital initiatives and partnerships. He sees the collaboration with PTCL as integral to Mashreq’s agile operating model, enabling them to meet evolving market demands.

Zarrar Hasham Khan of PTCL expressed delight in supporting Mashreq Pakistan to fulfill its business needs, noting PTCL’s role as a national company leading digitalization efforts in the country. He highlighted the importance of such partnerships in advancing telecom infrastructure, thereby contributing to Pakistan’s economic growth.

This agreement reflects PTCL’s dedication to providing top-notch services to corporate customers across various industries in Pakistan and contributes to the growth of ICT and Security Solutions, vital for a thriving digital banking ecosystem in the country.

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