Cash Management

Features and Services

• Manage collections through branches as well as electronic channels
• Manage payment (funds transfer, Pay order issuance, IBFT, Corporate cheques issuance)
• Host to host integration
• Advanced customized reports and e-alerts

Payments

Centralize your payments with ease

In today’s competitive business environment management of a company’s working capital has become crucial as it helps in increasing liquidity while keeping costs low. Keeping this in mind we have designed a comprehensive and fully optimized payments platform that minimizes costs and improves straight-through processing. Leveraging our comprehensive system you can make use of a wide assortment of payment methods both electronic and paper based.

Integration

With our advanced payment platform you can initiate transactions in singular or bulk form as well as gain host-to-host connectivity with your Enterprise Resource Planning (ERP) systems. Complementing the payments module we provide you access real–time account information. This will aid you in maintaining a clear view of your organization’s day-to-day cash positions, enabling you to make better use of your surplus balances.

Digitize your Authorization Matrix

Replicate your company’s signing authorities on our online environment by defining user permissions. Through our DIB Connect portal it is also customizable according to the business requirement. Gain increased control over your financial transactions through the ability to require multiple signing officers to approve electronic transactions.

Through DIB Connect we offer following payment related services:-

Funds Transfer – within DIB Accounts

DIB Connect portal can be used to transfer funds across any DIB Account across Pakistan on real time basis with straight through processing.

Pay Order issuance – DIB Connect

DIB Connect (Pay Order issuance) single or bulk issuance request can also be initiated using our DIB Connect module. The Pay Order issuance request will land electronically at our designated CMO center. The Cash Management Ops team will issue the PO and dispatch/deliver the same as per customer’s instructions.

Corporate Cheques issuance

Our customers can request for issuance of Corporate Cheques single or bulk. Our designated CM processing Center will print the cheques with or without customer’s digital signatures as per the customer’s requirement and will be dispatched to respective address based on the instructions provided.

Inter Bank Funds Transfer – IBFT

DIB connect Portal also allows its users to transfer funds through IBFT instantly between banks without any hassle on real time basis. Through this service customers can transfer funds from their account to any of the millions of accounts of other 1Link member banks across the country. IBFT free upto Rs.25,000/- per month per account – For additional amount above Rs.25,000 per month. 0.1% of the transaction amount or Rs.200, whichever is lower will be charged.

Collections

Streamlined Receivables

Collections are critical for every business. When it comes to receivables a company needs to provide as many avenues to its customers as possible. You need the ability to accept payments through multiple payment modes. Dubai Islamic Bank delivers the right array of collection services designed to meet the evolving needs of today’s most complex organizations.

Impeccable integration

Dubai Islamic Bank Collection Services will reduce your overall collection costs and maximize your working capital. Complementing the collections solution, we provide our customers with a transaction information portal from where you can access transactional information real-time from anywhere, at any time. Our collections services can also provide assistance as you take your business to new levels of effectiveness, efficiency and profitability.

Our dedicated team will enable you to:

• Realize collections nationwide
• Deposit all kinds of incoming instruments
• Receive online collections
• Automate your billing process
• Control & Predict your incoming cash flows

DIB Connect offers the following collections related services

Customized Deposit Receipts

It is a convenient way for the Corporate Entities of going about their collection endeavor. Mostly used by Companies having decentralized control over their warehouses due to the remoteness of their locations. Leveraging Dubai Islamic Bank’s wide branch network, dealers can deposits payments into the company account from any DIB Bank’s branch.

(Debit Authority Standing Instruction)

This is an efficient and convenient mode of collections. This specific collection module concentrates all control in the hands of the customer. Through this collections mode its customers have increased control over cash flow while reducing the operational costs.

E-Collections

This system is designed to cater the need of large companies, centrally controlled and have few large dealers handling their whole distribution. This dealer-initiated collection module allows the stake holders of the customer to directly transfer funds to the company’s account by the internet using our DIB connect portal access capability. The module significantly reduces the processing time of the transaction and maximizes your cash flow by immediately crediting your Main Collection Account.

CIT Services

A 24/7 customizable and flexible cash collection service offered to our Corporate Customers with numerous benefits such as insured pickup, overnight storage facility etc.

MIS Reporting

DIB Connect portal also provides users with an unprecedented level of visibility across all collections and disbursement activities. The MIS reporting module hosts an array of specialized reports which can be customized as per the requirement of each client for better financial information. The module supports real-time access to transactional information and account balances. Apart from the MIS Reporting Capability the platform also houses a module whereby the customer can access the companies Account Statements, which can be downloaded into multiple formats

Sweep Set-ups

Based on the company instructions the surplus balance from your operating account is automatically swept into a savings account overnight. Funds are then transferred back and forth as per customer requirement.

MIS Scheduler

Transaction updates is an intra-day service which keeps you posted to the various debit and credit entries as they happen in your account at any given time of the day. With Interim Transaction Report you can stay on top of your cash position.

Alert Services

If you are an entity which keeps a constant watch on their cash flows then our alert engine is just what you need. Our alert service engine enables you to keep yourself updated of the incoming transactions down to the very second. Through this service you can proactively monitor your accounts and get instant updates wherever you are via both email and/or SMS. The alerts are modular and can be customized depending on the information you require to be present in it.