Askari Bank Limited (AKBL) has signed a Memorandum of Understanding (MOU) with National Institutional Facilitation Technologies Private Limited (NIFT) with an aim to further enhance its digital banking offerings.

This unique partnership will enable Askari Bank customers to perform e-commerce transactions through NIFT e-Payment gateway, which includes Business-to-Business (B2B) payments, establishment of Escrow platform for e-commerce payments, digital cheque deposit facility, along with enablement of e-Cheque solution.

The MoU was signed by Mr. Khurshid Zafar, Chief Operating Officer, AKBL and Mr. Haider Wahab, Chief Executive Officer, NIFT. Mr. Shehryar Ali Shah, Chief Digital Officer, AKBL and Mr. Fawad Abdul Kader, Head of Digital Financial Services, NIFT were also present at the ocassion alongwith senior executives from both the organizations.

Mr. Khurshid Zafar, Chief Operating Officer, AKBL said, “Our collaboration with NIFT aligns with our strategic vision to be one of the best digital bank for our customers. The partnership aims to augment digital acceptance and create an interoperable digital payments ecosystem in the country.”

Speaking on the occasion, Mr. Haider Wahab, CEO, NIFT, stated, “We are pleased to sign up with Askari Bank on NIFT ePay to provide innovative digital banking products to account holders and also help their business relationships in availing digital collection solutions. I believe that this multidimensional partnership between Askari Bank and NIFT would further accelerate the digitalization of commerce across Pakistan.”