Meezan Bank joins hands with Computer Research Private Limited for Implementation of a New Remittance Processing System

Meezan Bank joins hands with Computer Research Private Limited for Implementation of a New Remittance Processing System

Karachi, March 20, 2019 (PPI-OT): Meezan Bank, Pakistan’s leading Islamic bank and the Best Bank in Pakistan – 2018 has recently signed a landmark agreement with Computer Research Private Limited (CR-PL) – a trusted Information and Communication Technology (ICT) solutions and services provider, for implementation of a new remittance processing system.

The signing ceremony was held at Meezan Bank’s Head Office, Karachi and was attended by Mr. Ariful Islam – Deputy CEO, Meezan Bank and Mr. Khalid Jameel Shamsi – CEO, CR-PL. Also present at the occasion were Mr. Shahid Anjum – Chief Marketing Officer and Mr. Muhammad Jawwad – Project Manager from CR-PL and Mr. Shahzad Abdullah – Head of Treasury and Home Remittances, Mr. Mehdi Abbas Nandwani – Unit Head Home Remittance and Mr. Faiz Ur Rehman – Group Head Information Technology and Digital Banking from Meezan Bank, with respective team members.

Under the said agreement, CR-PL has implemented a new remittance processing system that will enable the Bank’s Cash Over the Counter (CoC) customers to authenticate their remittance via biometric verification. The system will also enable payment automation of settlements and assist the Bank and its partners in client integration. The implementation of the new system will further enable the Bank to reduce the overall payment processing time. The Bank will hence be able to minimize risk and maintain effective compliance standards through integration with its centralized screening system for enhanced Customer Due Diligence (CDD).

Mr. Ariful Islam – Deputy CEO, Meezan Bank while speaking at the occasion, said, “Taking into account the needs of non-resident Pakistanis, Meezan Bank aims to bring a greater value proposition to its global clientele. The implementation of a new home remittance system is also an important step towards ensuring compliance of Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) policies in home remittance.

This is a commendable initiative taken by Meezan Bank that will provide the customer with a hassle-free and reliable service to send money back to their loved ones.” Mr. Khalid Jameel Shamsi, CEO – CR-PL also lauded Meezan Bank’s implementation of the new system, saying that it was heartening to see Pakistani banks staying up-to-date with technological advancement.