KARACHI: Gani and Tayub (G&T) Group, country’s leading group with companies across different sectors including synthetic, rayon and power generation has embarked on an enterprise level digital journey with implementation of the System Application and Product in Processing (SAP) for all areas of their operations including banking and finance.
Accordingly, after thorough evaluation Meezan Bank’s Transaction Banking solution eBiz+ has met G&T’s highest standards for host-to-host connectivity with SAP for payments and collections, said release on Thursday.
An agreement was hence recently signed by the management of respective entities represented by Executive Director, G&T Group, Rizwan Diwan, Executive Director, G&T Group, Shabbir Diwan, Group Head, Corporate and Institutional Banking, Muhammad Abdullah Ahmed and Executive Vice President and Head of Transaction Banking from Meezan Bank at G&T Tower, Karachi Muhammad Saqib Ashraf.
As per agreement, Meezan Bank will provide its state-of-the-art Transaction Banking Solution (eBiz+) for payments and collections to the subsidiaries of G&T Group including Gatron (Industries) Limited and Novatex Limited. This core suite of integrated solutions will ensure efficient cash flow management and ease of reconciliation providing the G&T Group with operational excellence.
Rizwan Diwan shared G&T’s ambition for developing G&T as a digital conglomerate signified by the implementation of SAP and appreciated Meezan’s contribution as a banking partner in such an initiative.
This agreement is expected to strengthen the relationship as Meezan Bank supports G&T through digitalization of transactions and efficiently manage day-to-day operations.