Bank of Punjab, Nestlé sign MoU
LAHORE (PR): The Bank of Punjab (BoP) and Nestlé Pakistan have signed a MoU enabling the two partners to collaborate on improving the productivity of Pakistani dairy farmers by way of providing them with financial assistance.
With this arrangement, the BOP shall provide financing to Nestlé dairy farmers for the purchase of animals, dairy machinery and equipment, farm infrastructure and to meet their working capital needs at the most competitive rates with ease.
With a network of over 500 branches, the BOP has achieved its objective of financial inclusion through its presence in the country’s remotest areas through smart branches. The newly opened smart branches are connected online and offer state-of-the-art modern banking services. The commitment of the BOP towards the promotion of the agricultural sector (particularly the dairy industry), is endorsed by entering into this partnership with Nestlé Pakistan – a leader in the country’s dairy sector –and will hopefully go a long way in providing synergy to this sector.
ABL Asset Management launches Allied Capital Protected Fund
KARACHI (PR): ABL Asset Management has announced the launch of Allied Capital Protected Fund (ACPF). It is second in the series of Open End Capital protected funds. ACPF is suitable for the investors who are risk averse and want 100% capital protection. The Fund is now open for subscription.
Alee Khalid, CEO ABL Asset Management, stated: “This fund is specially designed after considering the needs and demands of our customers. Allied Capital Protected Fund offers a competitive opportunity for those who are willing to earn profit on their investment without losing their capital.”
Besides Capital Protection, ACPF aims to get optimal returns at the maturity of the fund. To protect the principal amount of the investors, ABL AMC will place a significant portion of the investment in TDR with a minimum AA-rated Bank and / or DFI, and remaining amount will be placed in equity market or any other SECP permitted investments to provide better returns to its investors. Earlier in the series, ABL AMC Capital Protected Fund (ABLAMCCPF) provided a healthy cumulative return since inception of 25.07% to its investors at the completion of its two years tenure.
For the past 10 years, ABL Asset Management is providing innovative investment solutions with quality services to its investors. ABL Asset Management, the wholly owned subsidiary of Allied Bank, is rated AM2 ++ by JCR VIS which donates high management quality. It has the distinction of being the only AMC in Pakistan which is ISO 27001 certified. ABL Asset Management is presently managing eleven mutual funds and several administrative plans under its umbrella to cater the varying investments needs and unique circumstances of its clientele with total Assets under Management (AUM) of around 50 billion.
Jazz launches first SDN in Pakistan
ISLAMABAD (PR): Jazz, Pakistan’s leading digital company, has become the country’s first organisation to deploy Software Defined Networking (SDN) on its fixed & LDI network. This state-of-the-art upgrade shall allow the company to improve its service creation, performance and efficiency.
This SDN will enable Jazz to move from current manual node-level working on IP routers to a fully automated E2E dynamic adjustments in capacity, priority, routing, resilience and maintenance related shutdowns. This new SDN brain will accomplish all of this efficiently through an end-to-end high-level visibility created by connecting it to all individual routers.
Speaking about the SDN deployment, Khalid Shahzad, CTO – Jazz, said, “Digital transformation is forcing companies to be agile and move with speed, and the network needs to be equally agile and fast. Understanding this, Jazz decided to deploy SDN across its fixed& LDI network to ensure expected growth in traffic flows are managed seamlessly, while new services become easier to deploy.”