Media Category: News

ITMinds Limited signs an agreement with InfraZamin Pakistan Limited for provisioning of Back Office Services

Karachi August 27, 2021: InfraZamin Pakistan Limited (InfraZamin) & ITMinds Limited (ITMinds), a wholly owned subsidiary of Central Depository Company of Pakistan Limited (CDCPL), have signed an agreement enabling ITMinds to provide Back Office Accounting Services to InfraZamin. The agreement was signed by Ms. Maheen Rahman CEO-InfraZamin, and Mr. Iqleem-uz-Zaman Khan CEO-ITMinds in the presence of Mr. Badiuddin Akber Director-ITMinds & CEO-CDCPL, Mr. Waqas Ashraf CFO- ITMinds, Mr. Khusro Iqbal Mumtaz Chief Risk Officer-InfraZamin and other management team members from both the sides.

InfraZamin is licensed to act as an investment finance company and is an initiative by the Private Infrastructure Development Group (PIDG), including PIDG group companies InfraCo Asia Investments (InfraCo Asia) and GuarantCo Limited (GuarantCo), in partnership with non-profit Karandaaz Pakistan (Karandaaz). to establish a for-profit, credit enhancement facility for raising infrastructure-related debt in Pakistan.

Commenting on the occasion, Ms. Maheen Rahman CEO InfraZamin, said that we look forward to working with IT Minds under this arrangement which will enable the InfraZamin team to focus on our core business function of credit guarantees. Also commenting on the occasion, Mr. Badiuddin Akber, Director ITMinds & CEO-CDCPL, said that considering this is an era of specialization, we have commissioned ITMinds with an aim to enable asset management companies, investment finance companies and other organizations to outsource their back office functions to a competent and reliable BPO partner, thus relieving them to focus on their core businesses for their commercial success while achieving efficiency, scalability & transparency of processes.

HABIBMETRO And CDC Sign Agreement For NRP Investment In PSX

HABIBMETRO and Central Depository Company (CDC) signed an agreement that aims to facilitate Non-Resident Pakistanis (NRPs) to invest in Pakistan’s stock market through the HABIBMETRO Roshan Digital Account (RDA). The RDA is an initiative of the Government of Pakistan and the State Bank of Pakistan that brings banking convenience to Pakistanis residing, or owning declared assets, overseas.

On the occasion of the signing ceremony, Mohsin Ali Nathani, President & CEO HABIBMETRO commented, “We are pleased to collaborate with the CDC for enhancing our RDA offering and enabling NRPs to invest in Pakistan’s stock market in a hassle-free and convenient manner.’ He added, ‘HABIBMETRO and Habib Bank AG Zurich are committed to serving our customers regardless of where they are in the world. HABIBMETRO RDA offers NRPs digital account opening, convenient online banking and attractive opportunities that contribute toward the progress of Pakistan.’

HABIBMETRO’s Roshan Digital Account provides NRPs with an innovative banking solution to undertake banking-payments, fund-transfers and investment activities in Pakistan, from anywhere in the world. The RDA program is available for Conventional and Islamic Banking customers around the world. Since its launch 6 weeks ago, HABIBMETRO RDA has contributed over 5 percent to the Rs. 600 million+ remittances attracted through the initiative.

Expressing his thoughts at the signing ceremony CEO CDC Mr. Badiuddin Akber said, “Roshan Digital Account is a remarkable step taken by the State Bank of Pakistan to facilitate Overseas Pakistanis. Overseas Pakistanis are indeed a very valuable asset of our country and the Central Depository Company of Pakistan Limited (CDC) is privileged to facilitate them for investment in one of Asia’s best performing stock markets. As a result of this arrangement, more than 3500 capital market accounts have been opened for RDA holders bringing in an investment of more than Rs1.2 billion. We are confident that this integration between HabibMetro and CDC will further fortify the foreign investment avenue channelized via the Roshan Digital Accounts, and that in future the same channel can be leveraged for further investment diversification, such as mutual fund investments.”

The event was graced by Chairman CDC, Mr. Moin Fudda, CEO MUFAP Ms. Mashmooma Majeed and the legendary squash player, Mr. Jahangir Khan, who is the brand ambassador for HABIBMETRO RDA.
More details about the HABIBMETRO Roshan Digital Account are available on HABIBMETRO Bank’s website.


About Habib Bank AG Zurich (HBZ)

HBZ provides banking services in 10 countries around the world (Switzerland, UK, UAE, Pakistan, Canada, Hong Kong, South Africa, Kenya and rep offices in Bangladesh, China and Pakistan). The Group, which is incorporated in Switzerland, completed 50 years of operations in 2017.


HABIBMETRO Bank is a subsidiary of Habib Bank AG Zurich in Pakistan. It is one of the leading trade finance banks in the country and operates with over 400 branches in 140 cities of Pakistan.

CDC signs agreement with NIFT for enabling digital payments for its initiative “Emlaak Financials

Central Depository Company (CDC) is recognized as the infrastructure backbone of Pakistan’s Capital Market and it is the sole securities depository in the country, while NIFT is one of the largest payment processors in Pakistan. Central Depository Company (CDC) and National Institutional Facilitation Technologies (NIFT) signed an agreement to enable digital payments through NIFT ePay. This collaboration will enable the investors to use NIFT ePay services for investing intoMutual Funds using CDC’s digital platform” “Emlaak Financials”. Furthermore, the solution will also be facilitating CDC’s IAS account holders to make IAS payments through CDC Access portal.

Both organizations have focused on promoting digital transactions as an integral part of their vision. NIFT ePay has established an interoperable and secure digital commerce payment gateway that works with bank accounts, wallets or cards in Pakistan, while CDC recently has been credited with implementing various platforms for capital market transformation through digitization, with “Emlaak Financials” being the latest addition in these list of CDC’s landmark transformative solutions.

The agreement was signed by Mr. Haider Wahab CEO – NIFT and Mr. Badiuddin Akber CEO – CDC at the head office of Central Depository Company (CDC).

Haider Wahab CEO, NIFT stated, “We are extremely excited to be a part of CDC’s newly launched initiative for the Mutual Fund Industry. We understand that the “Emlaak Financials” platform has an aspiring roadmap, and we look forward to playing our role in enabling the platform. NIFT will always focus to partner for unique and innovative ideas which will uplift the digital transformation in Pakistan.”

At the signing ceremony, Mr. Badiuddin Akber – CEO, CDC said, “As we embark on this collaboration with NIFT, it gives us immense pride that we are engaging NIFT’s payment gateway for the first of its kind mutual fund aggregator platform being launched in the financial landscape of Pakistan. The launch of this platform and its integration with NIFT’s services to enable secure and swift payments for mutual fund investors is in-line with CDC’s vision of enhancing efficiency and ease of doing business. As we move further in our market transformation journey, we are confident that we can leverage this collaboration between CDC and NIFT for improving and automating various other processes and features.”