BankIslami’s cheque encashment service

BankIslami has launched the country’s first-ever cheque encashment service through Cash & Cheque Depo­sit Machines powered by TouchPoint’s digital platform, QMatch, as per a press release. This service allows customers to instantly cash in their cheques without the need to visit a branch.

This initiative is a step in BankIslami’s broader digital transformation strategy, aimed at enhancing customer accessibility, security, and operational efficiency. By leveraging QMatch’s advanced transaction processing capabilities, the service ensures customers can complete cheque encashment securely and efficiently in real time, without the traditional delays and branch visits.

Ashfaque Ahmed, Chief Officer of AiK, emphasised the importance of this advancement, stating, “With the introduction of this cheque encashment service, we are making a significant advancement in transforming the banking experience in Pakistan. This is more than just a service — it’s a commitment to enhancing customer convenience, ensuring faster and more secure transactions, and providing innovative digital solutions that align with our vision of becoming a fully digital bank.”

Dow-IBBPS wins research award

The National University of Singapore has awarded the “Research Excellence Award 2025” to the Dow Institute of Biological, Biochemical and Pharmaceutical Sciences, as per a press release, for its success in research aimed at reducing mortality rates related to antimicrobial resistance.

The study focuses on bloodstream infections and ventilator-associated pneumonia with hospital-acquired infection. Dow-IBBPS completed its global surveillance study, with 41 clinical trial active sites globally, in collaboration with the National University of Singapore. This study may bring new interventions in the future to reduce the mortality rate, which currently stands at almost 25 per cent per recent studies.

Bank Alfalah launches AlfaMall

Bank Alfalah has launched AlfaMall on WhatsApp, an e-commerce shopping platform that enables customers to browse, select, and purchase products directly within the messaging app as per a press release. The platform caters to the growing demand for mobile-first, hassle-free transactions, marking a step forward in digital banking and e-commerce.

Muhammad Yahya Khan, Chief Digital Officer at Bank Alfalah, stated, “We’re redefining e-commerce accessibility with AlfaMall on WhatsApp. By integrating a structured product catalogue and seamless transaction process, we’re simplifying the shopping journey and bridging the gap between digital banking, e-commerce, and messaging platforms.”

PQAMC offers March dividends

Pak-Qatar Asset Management Company Limited (PQAMC) has recently announced the monthly dividend of its Pak-Qatar Monthly Income Plan (PQMIP) under PQAMC’s Shariah-Compliant Income Fund as per a press release. The plan is amongst the highest-return-paying plans in the category.

PQMIP announced a dividend of Rs0.4141 per unit for March 2025, earned as of March 26, 2025. PQAMC is rated AM2 with a ‘Stable Outlook’ by the Pakistan Credit Rating Agency. The PQMIP plan is also rated A+ with a ‘Stable Outlook’.

CEO of PQAMC, Farhan Shaukat, states, “We are pleased to announce this distribution to the unit-holders of PQMIP. This reflects our strong, steady performance and our commitment to delivering value and excellence to the participants of PQMIP. We thank our investors for placing their trust in us as we continue to drive success in the market.”

P&G’s CSDW celebrates 20 years

P&G Pakistan, Imtiaz Group, and Health Oriented Preventive Education joined forces to deliver 500,000 litres of clean drinking water during the end of Ramazan.

The collaboration was launched nationwide across all 31 branches of Imtiaz, with a ‘Buy 1, Give 1 Day of Water’ from March 24 to 30, 2025. Con­sumers who purchased Ariel, Pampers, Always, Gillette, Head & Shoulders, Pantene, or Safeguard contributed to this cause with every purchase.

The P&G Children’s Safe Drinking Water Programme is a nonprofit initiative that began in 2004. The programme helps raise awareness of the water crisis and provide clean drinking water to areas without access, especially during natural disasters or emergencies, using the P&G Purifier of Water packets.

Published in Dawn, The Business and Finance Weekly, March 31st, 2025