KARACHI: BankIslami Pakistan Limited (BankIslami) has entered into an agreement with K-Electric Limited (KE) to enroll in their centralised billing mechanism, a statement said on Friday.
By signing the agreement, BankIslami becomes the first Islamic bank to enter this programme.
The signing ceremony, held at BankIslami head office, was attended by Farooq Anwar, head of operations, BankIslami, Sadarudin Pyar Ali, head of administration, and Amer Zia, chief distribution officer of K-Electric, among other senior executives of the two companies, it added.
Under the agreement, CBM consumers will be able to make a single centralised payment to pay for multiple due payments for all their KE meter connections, it said.
A designated KE Corporate Consumer Desk will also be available to assist consumers to facilitate them in exemptions from late payment surcharges and exemption from disconnection.
The desk will also fast-track processing of new connection requests and serve as a way to promptly resolve technical or billing complaints, the statement said.
Further, a “Change of Name” facility on long-term tenancy agreements will be available to enable customers to file speedy tax returns and claim withholding tax on a priority basis.
This arrangement is exclusive and is not available to all K-Electric consumers, it added.
Certain pre-qualification requirements, such as verifiable payment history, etc, must be fulfilled to avail of the CBM, which BankIslami has successfully completed.