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For Immediate Release Citigroup Inc. (NYSE: C)

Citibank N.A., Pakistan and NIFT Enter into a Referral Arrangement to Promote Digital Financial Services in Pakistan

July 14, 2022

Karachi – Citibank N.A., Pakistan (Citi) and National Institutional Facilitation Technologies Private Limited (NIFT) recently established a referral arrangement to promote digital financial services. The arrangement between Citibank and NIFT, Citibank will introduce NIFT's electronic payment gateway (NIFT ePay) to facilitate its clients with an array of digital collection channels.

NIFT ePay is a State Bank of Pakistan licensed Payment System Operator and Payment Service Provider (PSO/PSP) that allows corporate institutions to receive collections digitally from bank accounts, wallets, and debit/credit cards. The arrangement aims to facilitate businesses by offering tailor-made digital collection solutions while strengthening Pakistan's e-payment ecosystem.

Commenting on the occasion, Mr. Ahmed Bozai, Managing Director & Citi Country Officer – Citibank N.A., Pakistan said, "This enablement will open avenues for reliable and secure electronic receivables solutions for our clients, as well as help strengthen the digital payment and collections landscape of the country. Citi's arrangement with NIFT will further our mission towards promoting digitization of banking services in Pakistan."

Mr. Haider Wahab, CEO – NIFT said, "We are delighted to enter into a referral arrangement with Citi, one of the leading foreign banks in Pakistan. NIFT ePay, as a digital payment gateway provides solutions and convenience in online transactions. This referral arrangement will further augment the accessibility of digital payment acceptance in the country."

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

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About Citi's Treasury and Trade Solutions
Citi Treasury and Trade Solutions (TTS) enables our clients' success by providing an integrated suite of innovative and tailored cash management and trade finance services to multinational corporations, financial institutions and public sector organizations across the globe. Based on the foundation of the industry's largest proprietary network with banking licenses in over 90 countries and globally integrated technology platforms, TTS continues to lead the way in offering the industry's most comprehensive range of digitally enabled treasury, trade and liquidity management solutions.

Media Contact:
Hafsa Khatib

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