Standard Chartered to Digitise Haier Pakistan's Value Chain

Karachi, 15 January, 2024 – Standard Chartered Pakistan and Haier Pakistan have recently signed a strategic agreement to digitise Haier Pakistan’s value-chain and optimise their cashflows. 

Standard Chartered will transform Haier Pakistan’s paper-based payments to a virtual account solution for their 1300 dealers; Enabling them to make real-time, round the clock payments digitally. The Bank is also providing Haier Pakistan with an API-based service for real time collection notifications which would allow them to release appliances/goods to their dealers instantly and enable their dealers to immediately obtain incentives of early payments.


Present at the signing ceremony were Shiraz Hyder, Head of Transaction Banking and Ali Haider Zaidi, Head of Global Subsidiaries from Standard Chartered Pakistan. Feng Xianfa, Chief Executive Officer, Zhang Hao, Chief Financial Officer, and Mohammad Faraz Khan, Director Finance joined the ceremony from Haier Pakistan.


Arslan Nayeem, Head of Client Coverage – Corporate Commercial and Institutional Banking (CCIB) for Standard Chartered Pakistan said, “We are committed to working closely with our clients to raise the bar on industry standards and empower them as we bank the business models of the future. As we continue to invest in our digital platforms to collaborate with clients like Haier Pakistan, providing them with smart digital solutions to solve real-time problems, we live up to our global commitment to be Here for Good.”


Mr Feng Xianfa, Chief Executive Officer of Haier Pakistan, expressed his gratitude to Standard Chartered Pakistan, for their support and for offering Haier Pakistan with an exceptional digital-banking platform, world-class solutions, and exceptional customer service. “With this ‘Virtual Account for Collection’ (VAC) solution coupled with Credit notification API for real time reconciliation, Haier Pakistan is now able to instantly realize their receivables. This digital receivables solution will help Haier Pakistan in optimising its financial-resources and achieve greater efficiencies.”