UBL secures GIDC payments collection mandate from SNGPL

05:45 PM | 11 Nov, 2020
UBL secures GIDC payments collection mandate from SNGPL
Source: Farooq A. Khan, Group Head Corporate & Investment Banking UBL (seated – 2nd left) and Amer Tufail, Managing Director SNGPL (seated – 2nd right) pictured along with senior executives of both organizations at the signing ceremony of an agreement to appoint UBL as the sole partner for GIDC payments collection.
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KARACHI - Farooq A. Khan, Group Head Corporate & Investment Banking UBL  and Amer Tufail, Managing Director SNGPL along with senior executives of both organizations at the signing ceremony of an agreement to appoint UBL as the sole partner for GIDC payments collection.

The agreement was signed on November 9, 2020, at the SNGPL Head Office in Lahore. Under the agreement, UBL will exclusively provide centralized liquidity management services to SNGPL with complete reporting to ensure efficient and accurate reconciliation of GIDC collections on behalf of SNGPL. 

On Nov, 04. 2020, United Bank Limited (UBL) presented “Approval letters” to its first qualifying female and male customers under the Prime Minister’s “Mera Pakistan Mera Ghar” low-cost housing finance scheme at the State Bank of Pakistan head office, a statement said.

Through this scheme, the customers will be able to have their own respective houses under Riba-free affordable financing from UBL Ameen, the Islamic Banking wing of UBL, it added.

Present on the occasion were Sima Kamil, deputy governor of SBP, Samar Hasnain, executive director of SBP, Shazad Dada, president and CEO of UBL, Zia Ijaz, group executive branch of Banking and International UBL, and Tanveer Farhan Mahmood, head of Islamic banking UBL, along with other senior executives from their respective teams.