Pakistan Telecommunication Company Limited and LOLC Microfinance Bank Limited have formalized a cloud services agreement through PTCL Smart Cloud infrastructure, aiming to provide scalable, secure technology solutions that support LOLC’s expanding microfinance operations across Pakistan. The agreement was signed in Islamabad by Farooq Rashid, Chief Executive Officer of LOLC Microfinance Bank, and Asif Ahmad, Group Chief Business Solutions Officer at PTCL.Official and Ufone 4G, underscoring the importance of digital infrastructure in strengthening financial services and operational resilience. The partnership reflects a growing focus on leveraging advanced telecommunications and data management capabilities to meet the evolving needs of Pakistan’s financial sector.
Senior executives from both organizations attended the signing ceremony, including Ilsam Awfer, Chief Operating Officer; Nizar Noor Ali Momnani, Chief Commercial Officer; and Faraz Basheer, Head of IT from LOLC Microfinance Bank. Representing PTCL were Haseeb Uddin Hashmi, Group Director of Enterprise Solutions, and Syed Imran Ali Bukhari, Group Vice President of Strategy and Product Management. The presence of key leadership highlighted the strategic significance of the collaboration and emphasized the commitment of both organizations to improving efficiency, security, and performance across LOLC’s digital banking platforms.
Through this collaboration, LOLC Microfinance Bank will benefit from PTCL’s expertise in telecommunications, secure cloud infrastructure, and enterprise data center solutions. By utilizing PTCL Smart Cloud, LOLC aims to enhance operational efficiency, reduce product time-to-market, and strengthen its platform and data management systems. This is expected to improve service delivery for customers and create a robust foundation for future technology-driven initiatives in microfinance and digital banking. The agreement also reflects broader efforts to support financial inclusion by ensuring that scalable, reliable, and secure digital systems are available to serve Pakistan’s growing customer base.
The partnership represents a strategic integration of technology and financial services, aligning PTCL’s cloud and enterprise solutions with LOLC’s operational requirements. By combining expertise in telecommunications, cloud management, and financial operations, the collaboration is positioned to deliver long-term value, improve IT efficiency, and support innovation within Pakistan’s digital banking ecosystem. Both organizations emphasized their commitment to maintaining high standards of data security and operational reliability, while leveraging the partnership to accelerate digital transformation and strengthen nationwide access to secure, technology-enabled financial services.
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