HBL, Shell Pakistan sign cash management accord

KARACHI: Habib Bank Limited (HBL) signed an agreement with Shell Pakistan Limited (SPL) to offer cash management solutions including collection of their sales proceeds throughout Pakistan.

Shell is a global group of energy and petrochemical companies involved in converting crude oil into a range of refined products marketed around the world. SPL is one of the oldest multinational companies in the country and a leader in oil marketing in Pakistan.

Rafi Basheer, Chief Financial Officer and Director and Farooq Barkat, Deputy Controller signed the agreement on behalf of Shell Pakistan while Aamir Irshad, head of Corporate Banking and Ms Syeda Tabinda Kazmi, head of Cash Management signed on behalf of HBL. With over 1,450 branches, HBL has the largest branch network in Pakistan.

The Bank is capable of collecting funds from the remotest parts of the country and providing credit to the centralized customer accounts along with real-time online MIS reporting and dedicated customer support. “HBL’s extensive branch network gives it a unique ability to offer an enhanced level of real time cash management services to its clients”, said Aamir Irshad.

HBL and Shell have been working closely on tailoring a seamless end to end cash management solution targeting Shell’s requirements across the country, and the formalising of this arrangement will further deepen the existing strong relationship between the two institutions, he added.

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