A memorandum of understanding (MoU) has been signed by National Bank of Pakistan (NBP) and Bank of China to encourage and boost the banking services in Pakistan. The aim of the MoU is to create an interactive environment between the two banks.
As per NBP this memorandum of understanding will further enhance and strengthen the healthy relations between China and Pakistan.
Saeed Ahmad President NBP and Dr. Tao Li. Country Head and CEO of BOCP signed the MoU. Rehmat Ali Hasnie Group Chief, Investment Banking, Syed Jamal Baquar Group Chief Corporate Banking, and Shaikh Tariq Abdullah Divisional Head were part of the meeting.
NBP President said that both the banks have created a mutually beneficial relationship. He congratulated BOCP management saying that BOCP and NBP are ready to extend their mutual cooperation.
The aim of the MoU is to increase interaction and cooperation in different fields including trade, finance, international transactions, cash control, private lending, financing of a project, financing of infrastructure, investment banking and many other fields.
Dr. Li was proud to be part of this MoU as he said that BOCP has a long relationship with the NBP. It is the first MoU that Bank of China has signed with any of the Pakistani banks.
BOCP wants to deliver financial services to Pakistan, to CPEC projects and to the local clients and companies of Pakistan, in general.
Pak-China friendship, the mega CPEC project has created a strong bond between the two nations. China is undoubtedly the strongest ally of Pakistan. Also, the projects started by China in Pakistan like Gwadar port, motorways, roads, etc will just strengthen Pakistan China relations.
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NBP is one of the leading financial banks in Pakistan with 1,456 branches in the country. Also, the bank has branches in 19 countries around the world. Bank of China is one of the world’s biggest bank with assets of almost dollars 2.9 trillion. As the banks are joining hands, it will be valuable for both the countries.