Skip to main content


Search for

CDC collaborates with various Banks for Efficient Payment Mechanism for its Mutual Fund and Discretionary Portfolio clients

 November 15, 2019  /   Blog  /   no responses  Comments

In continuation of its efforts to help increase ease of doing business in the country, CDC has recently collaborated with various banks for their cash management services for the arrangement of Efficient Payment Mechanism (EPM) for CDC’s Mutual Fund and Discretionary Portfolio clients. The EPM is designed to carry out seamless execution of transactions through the integration of CDC’s Fund Management System with the banks’ systems.

This solution has been developed to transfer payments instantly into the beneficiaries’ bank accounts over a secure VPN connection and aims to bring efficiency by eliminating the need of any physical instrument for execution of payments. By using EPM, Asset Management Companies (AMCs) are able to make transactions of mutual funds under their management through the modes of Interbank Fund Transfers (IBFT), Online transfers, Bankers Cheques and / or Real Time Gross Settlements (RTGS). Currently, this solution is available for redemption and conversion of units, dividend payments, vendor payments and transfer of funds. In the second phase, the EPM solution will aim to automate payments against brokerage, sales load & equity instruction, etc. The complete launch of all these types of payments through EPM will soon enable AMCs to shift their payments from traditional modes to this innovative feature.

In the fourth quarter (Oct–Dec 2019), CDC has signed MoUs with Bank Islami Pakistan Limited, Dubai Islamic Bank Limited and Faysal Bank Limited, making it a total of four banks collaborating with CDC for EPM arrangement with the following statuses:

  1. MCB Bank Limited – Live operations
  2. Bank Islamic Pakistan Limited – Live operations started
  3. Dubai Islamic Bank Pakistan Limited – Live operations started
  4. Faysal Bank Limited – Live operations to commence soon

CDC will soon be finalizing the same arrangement with Bank Alfalah Limited, JS Bank Limited and Allied Bank Limited.

Following AMCs are on board with CDC for EPM and are reaping the benefits of the solution:

  1. MCB – Arif Habib Savings and Investments Limited
  2. NBP Fund Management Limited
  3. UBL Fund Managers
  4. Atlas Asset Management Limited
  5. AKD Investment Management Limited
  6. Habib Asset Management Limited
  7. National Investment Trust Limited
  8. HBL Asset Management Limited
  9. AWT Investment Limited
  10. Alfalah GHP Asset Management Company

Share This Blog