F.P. Report
Karachi: Al Meezan Investments, one of the largest Asset Management Company in Pakistan signed an agreement with DirectFN Limited to mark the acquisition of their services for implementation of a comprehensive Asset Management Core System. DirectFN headquartered in Riyadh, Saudi Arabia is a globally acclaimed technology service provider for Asset Management Companies and Brokerages across various countries.
The new core system is designed to provide customers of Al Meezan Investments a complete suite of services and solutions from one window. The implementation of this robust system will allow Al Meezan to further improve and streamline both their internal and customer facing processes while reducing redundancies. The one window solution will further enhance the customer services and management capabilities of Al Meezan. The system is capable of evaluating comprehensive data and generate reports internally ensuring enhanced information security and confidentiality of investor data.
At the occasion of the signing ceremony Mr. Muhammad Shoaib, CFA, CEO Al Meezan Investments stated, “This initiative is part of our Digital Transformation Strategy. As one of the leading Asset Management Company in Pakistan with a track record of over 26 years, we feel that it is vital for us to stay ahead of the curve by investing in digital infrastructure. The recent pandemic has reinforced our focus on digital strategy to be ready for the future. I am confident that the implementation of the new core system will allow us to serve our investors in an even better and efficient manner while ensuring that our services remain seamless under any situation.”
At the occasion Mr. Amir Shams, Head of Business Strategy – Asia, DirectFN Limited stated, “The world has technically evolved and in recent times digital technology has grown exponentially. Pakistan also has a huge opportunity to grow along, especially in the financial sector. DirectFN being one of the pioneering FINTECH Company, was keen to abreast the gap in this region with new state of the art technical solution for financial market. It excites me that a very innovative company like DirectFN joined hands with one of the biggest fund management company – Al Meezan Investments, for the first time in Pakistan.
This definitely will let them transform digitally in their operations as well as for their customers.”
