Mashreq Pakistan selects PTCL to expedite the bank’s Digital Transformation journey

Islamabad, May 21, 2024: Pakistan Telecommunication Company Limited (PTCL) and Mashreq Pakistan, a part of Mashreq which is the leading financial institution in the MENA region, have signed an agreement for provisioning of primary data center colocation services at PTCL’s Tier-III Data Center facility.
In the esteemed presence of Mohamed Abdel Razek, Group Head of Technology, Transformation and Information, Mashreq, Muhammad Hamayun Sajjad, CEO, Mashreq Pakistan, and Umar Farooqi, Group Director Enterprise PTCL, Mashreq Pakistan’s Chief Information Officer, Khurram Abid, and PTCL’s Group Chief Business Services Officer, Zarrar Hasham Khan signed the agreement at a special ceremony recently held at PTCL Data Center II, Karachi.
PTCL is providing Mashreq Pakistan with its state-of-the-art infrastructure and platform solutions that are equipped with latest technology & managed security. Mashreq is actively progressing towards acquiring a restricted license from the State Bank of Pakistan to initiate pilot digital retail banking operations in Pakistan.
On the occasion, Mohamed Abdel Razek, Group Head of Technology, Transformation and Information, Mashreq, said, “We are pleased to sign this agreement with PTCL as our trusted partner for infrastructure and platform hosting as part of the Bank’s digital transformation strategy. This partnership signifies a transformative step forward in the Bank’s approach to infrastructure, platforms and data management. By leveraging PTCL’s data center and telecommunications expertise, Mashreq aims to achieve an enhanced and reliable operating leverage, and reduced time-to-market of products and services.”
Muhammad Hamayun Sajjad, CEO, Mashreq Pakistan, said, “Mashreq’s digital initiatives and partnerships are designed to not just meet but exceed customer and partner expectations, to drive digital transformation and foster financial inclusion across Pakistan. Our partnership with PTCL showcases our commitment to Mashreq’s agile operating model, enabling us to be ready to meet the changing demands of the market and our customers.”
During the signing ceremony, Zarrar Hasham Khan, Group Chief Business Solutions Officer, PTCL & Ufone 4G, said, “We are pleased to sign an agreement with Mashreq Pakistan to support them in fulfilling their business needs. PTCL, being a national company, is leading the digitalization effort across the country. Through such partnerships, PTCL continues to play its key role in the development of telecom infrastructure by providing innovative and secure solutions to the corporate sector that will further contribute towards the overall economic growth of the country.”
PTCL endeavors to provide best-in-class services to its corporate customers across various industries in Pakistan. This agreement is part of the growth momentum in the diverse areas of ICT and Security Solutions, which is key to a digital banking eco-system in Pakistan.