J.P. Morgan has been selected by Bank Alfalah Limited, a Pakistan-based financial institution with operations in several countries, to handle a range of treasury and cash management services.
Through its partnership with J.P. Morgan, Bank Alfalah says it will provide its clients with an enhanced customer experience supported by the smoother processing of transactions and a unified global network. Bank Alfalah, which previously worked with J.P. Morgan on executing select trade transactions, will adopt a range of services, including US Dollar clearing, trade reimbursement, account services and overnight fund sweeping. J.P. Morgan says Bank Alfalah has strategic growth plans to expand its international operations.
“We elected to partner with J.P. Morgan based on their strong and continued presence in Pakistan and the other markets in which we operate, says Syed Hassan, head of the financial institutions division at Bank Alfalah. J.P. Morgan has extensive cross-market capabilities, a wide range of integrated solutions and strategic insights into how we can further benefit our customers. They understood our needs from the outset, and importantly, the solutions we received have met our requirements.”
Amin Mohammed Khowaja, general manager of J.P. Morgan Pakistan, adds: “We’re delighted to further extend our relationship with Bank Alfalah. This ongoing relationship reflects our commitment to helping our partners in Pakistan further extend their services and enhance their business, and it shows we can consistently deliver the right solutions at the right time.”