National Bank of Pakistan (NBP) and Bank of China Pakistan Operations (BOCP) have signed an MoU to promote banking services in the country. The MoU will focus on developing niches and creating synergies between the two institutions in addition to strengthening the brotherhood between the two nations.
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 – FIfrom NBPand Yin Xiaohu, Deputy CEO, Sun Hui, Head of Business Development Dept, Sun Youcheng, Deputy Head of Business Development Dept & Talha Rizwan Relationship Manager, Financial Institutions from BOCP.
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 BOCP has signed with any bank 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. Being a trustworthy friend, China has always contributed to the growth and economic development of Pakistan.
“BOCP 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,” said Dr. Li
Saeed Ahmad, congratulated the management of BOC and said that 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.” Saeed Ahmed said
The development of Gwadar Port and China Pakistan Economic Corridor (CPEC), is an example of China’s support towards Pakistan. Both countries have achieved significantly in several fields such as infrastructure construction, energy development, and people-to-people exchanges.
Bank of China is one of the world’s largest bank 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.