Daily Times

Meezan Bank, Pakistan’s leading Islamic bank, and Hamdard Laboratories (Waqf) Pakistan, a pioneer in Eastern medicine, have marked a significant enhancement in their financial collaboration with the successful integration of advanced transaction banking services. The agreement in this regard was signed by Sadia Rashid, Chairperson & Chief Mutawallia of Hamdard Laboratories, and Syed Amir Ali, Deputy CEO of Meezan Bank said a news release. Key executives from both organizations were present, including Farrukh Imdad – Director General (Hamdard), Faisal Nadeem – Chief Operating Officer (Hamdard), M. Abdullah Ahmed, Group Head – Transaction & International Banking (Meezan) and Zia Ul Hasan, Group Executive – Banking & Operations (Meezan). The new agreement introduces a comprehensive collections integration between Meezan Bank’s state-of-the-art cash management system and Hamdard Laboratories’ SAP S4 HANA system. This digitalized solution aims to enhance the efficiency and accuracy of Hamdard Laboratories’ distributor collections and payments, supporting streamlined financial operations and greater operational effectiveness.