Pakistan Telecommunication Company Limited (PTCL) and Mashreq Pakistan, a subsidiary of the leading MENA financial institution Mashreq, have signed an agreement to accelerate Mashreq Pakistan’s digital transformation journey.
The agreement, signed at PTCL’s Data Center II in Karachi, provides Mashreq Pakistan with access to PTCL’s state-of-the-art Tier-III data center colocation services. This includes cutting-edge infrastructure, advanced platforms, and robust managed security solutions.
Mashreq Pakistan is actively seeking a restricted license from the State Bank of Pakistan to launch pilot digital retail banking operations in the country. PTCL’s expertise will be instrumental in achieving this goal.
“We are delighted to partner with PTCL,” said Mohamed Abdel Razek, Group Head of Technology, Transformation and Information at Mashreq. “This collaboration strengthens our approach to data management, infrastructure, and platforms. PTCL’s expertise will enhance operational efficiency, speed up product and service launches, and improve overall reliability.”
Muhammad Hamayun Sajjad, CEO of Mashreq Pakistan, emphasized the bank’s commitment to exceeding customer and partner expectations through digital initiatives. He stated, “This partnership will drive digital transformation and promote financial inclusion across Pakistan.”
Zarrar Hasham Khan, representing PTCL, highlighted the company’s dedication to providing innovative and secure solutions to the corporate sector, particularly in ICT and security solutions – critical components for a robust digital banking ecosystem in Pakistan.
This collaboration strengthens PTCL’s position as a leading provider of top-tier services for Pakistani corporations across various industries. It also signifies a significant step towards building a secure and thriving digital banking landscape in the country.