Bank Alfalah Extends Cash Management Relationship with JP Morgan
Bank Alfalah, a financial institution in Pakistan with operations in several countries, has selected JP Morgan to handle a range of treasury and cash management services. Through its partnership with JP Morgan, the bank will provide smoother processing of transactions and a unified global network.
Bank Alfalah, which previously worked with JP Morgan on executing select trade transactions, will adopt a range of services, including US dollar clearing, trade reimbursement, account services and overnight fund sweeping. JP Morgan’s integrated solution will support Bank Alfalah’s strategic growth plans, particularly as the company expands its international operations.
Syed Hassan, head, financial institutions division, Bank Alfalah, said: “We elected to partner with JP Morgan based on their strong and continued presence in Pakistan and the other markets in which we operate. JP 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.”