June 15, 2023 (MLN): Arif Habib Dolmen REIT Management Limited (AHDRML) has entered into an outsourcing arrangement with ITMinds Limited (ITMinds), whereby ITMinds will provide back office accounting services to AHDRML, said a press release issued on Wednesday.
ITMinds is a wholly owned subsidiary of Central Depository Company of Pakistan Limited (CDCPL).
Through this arrangement, ITMinds will facilitate AHDRML in concentrating on their core business activities, it added.
ITMinds will manage a variety of REITs, by relieving them from various non-core back office functions like accounting services, settlement of portfolios, facilitation for compliance/ reporting, Information Security Management, Business Continuity and IT arrangements.
Mr. Muhammad Ejaz, CEO-AHDRML, said that this arrangement will enable AHDRML to concentrate on its core business of managing various types of REITs while outsourcing the back office functions to a professional Fund Administrator.
Further commenting on the occasion, Mr. Badiuddin Akber, Director ITMinds & CEO-CDCPL, said that the concept of outsourcing non-core critical business activities has proven to be efficient and cost-effective.
Hence, ITMinds has been founded with the aim to enable REIT Management Companies (RMCs) and other organizations to outsource their back office functions to a competent and reliable BPO partner.
Moreover, facilitates them to augment the focus of their management on their critical business activities which are integral to their commercial success while achieving efficiency, scalability & transparency of processes.
