NBP and BoC sign MoU for enhancing banking services

KARACHI: National Bank of Pakistan (NBP) and Bank of China Pakistan Operations signed a MoU to promote banking services in the country. The MoU will focus on developing niches and creating synergies between the two institutions. The MoU will strengthen the ironclad brotherhood between the two nations, says a Press release.

The MoU was signed by Saeed Ahmad, President and CEO, NBP and Dr. Tao Li, Country Head & CEO BOCP. Also present on the occasion were Rehmat Ali Hasnie, Group Chief, Investment Banking, Syed Jamal Baquar, Group Chief, Corporate Banking, Shaikh Tariq Abdullah, Divisional Head, Financial Institutions, Muhammad Ahmed, Unit Head FI, Danish Saeed Khan, Senior Relationship Manager FI, Sheikh Raheel Ahmed, Relationship Manager FI from NBP and Yin Xiaohu, Deputy CEO, Ms. Sun Hui, Head of Business Development Dept, Sun Youcheng, Deputy Head of Business Development Dept & Talha Rizwan Relationship Manager, Financial Institutions from BoC.

Saeed Ahmad, congratulated the management of BOC and said, "Both institutions have developed a strong mutually beneficial relationship and are willing to extend the bilateral cooperation. NBP believes that this MoU will further extend cooperation in the areas of trade finance, cash management and international transactions, corporate lending and project financing, infrastructure financing, investment banking and various other fields."

Dr. Li expressed his pleasure to be a part of this memorable event, and stated that Bank of China has a long standing working relationship with NBP. It is the first MoU which BoC has signed with any bank of Pakistan. BoC is fully committed to Pakistan and is determined to deliver its excellent financial service to the not only the projects under CPEC and also the target local corporate clients residing in Pakistan.

Pak-China friendship is not only a sign of unity between the two countries but also a strong bond of mutual trust, tolerance and long lasting confidence which is acknowledged by the whole world. Being a trustworthy friend, China has always contributed to the growth and economic development of Pakistan.

The development of Gwadar Port and China Pakistan Economic Corridor (CPEC), is an example of China's unconditional support towards Pakistan. Both countries have achieved significantly in the fields such as infrastructure construction, energy development, and people-to-people exchanges.

Bank of China is one of the world's largest banks with total assets of more than USD 2.9 trillion. NBP is amongst the largest financial institution in the country with 1,456 branches in Pakistan and presence in 19 countries around the globe. Both sides believe that the cooperation will lead to a win-win situation to the two banks and the two nations.