Islamabad: LOLC Microfinance Bank and Pakistan Telecommunication Company Limited (PTCL) have signed an agreement to introduce cloud services through the PTCL Smart Cloud platform, aiming to support LOLC’s expanding digital and microfinance operations.
Cloud services agreement between LOLC and PTCL
Under the agreement, PTCL will provide cloud infrastructure and platform solutions designed to support the bank’s technology and data management requirements. The service is intended to help the bank scale its digital operations and enhance system reliability.
The signing ceremony was attended by senior officials from both sides. Farooq Rashid, CEO of LOLC Microfinance Bank, and Asif Ahmad, Group Chief Business Solutions Officer for PTCL & Ufone 4G, signed the document on behalf of their organizations.
Officials highlight operational goals
Speaking at the event, Farooq Rashid said the bank aims to strengthen its technological foundation by using PTCL’s data center and cloud capabilities to improve service efficiency and reduce deployment timelines for new offerings.
Asif Ahmad noted that PTCL’s role in the agreement focuses on supporting the bank’s operational needs through secure and enterprise-grade digital solutions.
Partnership linked to wider ICT expansion
PTCL stated that the collaboration is part of its broader effort to expand ICT and security services for corporate clients. The company sees the agreement as contributing to the digital infrastructure that supports Pakistan’s financial and banking ecosystem.
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