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Dhaka, 18 June 2008
Press
Release
Southtech Wins International Bid
Dhaka, 18 June 2008: Southtech Limited has won a bid to automate the loans and advances
operations of the National Pension and Provident Fund (NPPF) of Bhutan. Three companies were finally short
listed in this international bid including Oracle Corporation owned i-flex solutions of India.
Ascend Banking shall replace NPPF’s existing loans management system and the existing accounting
system and it will be integrated with NPPF’s Oracle-based pension and provident fund management
systems. The customer Database Module of Ascend Banking shall be extensively used for SMS messaging,
e-mail massaging and statement distribution. Southtech also offered an integrated document management
system, Southtech DMS, to allow seamless archival of thousands of loan related and other documents
of NPPF.
The agreement was signed by the Director and CEO of NPPF, Mr. Dubthob Wangchug and the
Managing Director and CEO of Southtech, Mr. Syed Mamnun Quader.
“We are delighted to win this contract”, said Quader. “This is our second international
win in Bhutan and we are proud of this achievement”. Southtech had earlier implemented its Ascend Banking
software in Bhutan Development Finance Corporation in its head office and all its twenty three branches
spread throughout the Kingdom.
National Pension and Provident Fund of Bhutan is an autonomous organization that was
set up by the Royal Government of Bhutan in March 2000 for the management and administration of the
pension and provident fund of the Kingdom of Bhutan. Its loans portfolio comes under the supervision
of the Royal Monetary Agency.
For more information contact:
enquiries@southtechlimited.com
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