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Standard Chartered, through its Straight 2 Bank product, supports Advance Telecoms business.

KARACHI, June 30, 2010 (Balochistan Times): Standard Chartered, the largest international Bank in Pakistan, with 161 branches in 41 cities, and Advance Telecom, the largest authorized distributor of Nokia Mobile phones in Pakistan, signed an agreement for Straight 2 Bank, Standard Chartered Banks electronic banking platform. Standard Chartereds relationship with its clients is a manifestation man·i·fes·ta·tion
n.
An indication of the existence, reality, or presence of something, especially an illness.


manifestation
(man´ifestā´sh
 of its commitment to Pakistan. The bank is keen on building long term partnerships with its clients by offering banking solutions that help add value to their businesses. Straight 2 Bank is one such global product. It is a tool to efficiently execute and monitor cash management, foreign exchange and trade finance activities. It also offers a wide range of payment solutions on a single platform. This includes transfers, corporate cheques, pay orders, payroll and telegraphic tel·e·graph·ic   also tel·e·graph·i·cal
adj.
1. Of, relating to, or transmitted by telegraph.

2. Brief or concise: a telegraphic style of writing.
 transfers. Commenting on this occasion, Mr. Imran Ahad, Managing Director, Origination Origination

The process through which a mortgage lender creates a mortgage secured by some amount of the mortgagor's real property.

Notes:
Also known as loan origination, everyone must go through the origination process when securing a mortgage for a piece of real
 and Client Coverage, Standard Chartered said, Standard Chartered, consistent with our brand promise of being Here for good for our clients, offers banking solutions and products that greatly enhance our clients operational efficiency. We believe that this product offering to Advance Telecom will go a long way in helping Advance Telecom further streamline their business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets  through efficient and secure cash management solutions. Advance Telecom, with approx 40% share of the USD USD

In currencies, this is the abbreviation for the U.S. Dollar.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
 360 million cell phone market in Pakistan, will move to Straight 2 Bank from August 1, 2010. Share of Advance Telecom in the Nokia official cell phone market in Pakistan is close to 60%. It is hoped that for Advance Telecom, adopting this product will lead to reduction in internal costs, facilitate reconciliation and enhance their control levels. Commenting on the agreement, Mr. Rizwan Majeed, COO Advance Telecom said I am impressed with the functionality of the Straight 2 bank product. Using the Straight 2 Bank electronic platform has led to improved workflow within the company, resulting in considerable time saving in processing of transactions especially with regards to opening of Letters of Credit. I am confident that this product will contribute in helping Advance Telecom further cement its leadership position in the mobile phone market. Seen in the photograph below are Mr. Imran Ahad, Managing Director, Origination and Client Coverage and Mr. Rizwan Majeed, COO Advance Telecom, along with their respective teams.

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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Date:Jun 30, 2010
Words:380
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