Pakistani Banks Planning to Expand Business to China

[Furqan Sarwar]

Several Pakistani Banks are planning to expand their businesses overseas particularly to the neighboring Country china to get maximum benefit out of enhanced trade opportunity due to China-Pakistan Economic corridor.

United Bank Limited (UBL), Habib Bank Limited (HBL) and National Bank Limited (NBL) all three premium banks of the country, occupying 40% of market share showed their interest in capitalizing on the current window of opportunity.

An official of UBL told that the bank is planning to launch a full-fledged branch in Beijing conforming to the guidelines of China Banking Regulatory Commission

The UBL, the second-largest private sector bank, entered the Chinese market in 2007 through setting up representative office in Beijing, which is acting as liaison office for the bank and providing valuable insight on Chinese business dynamics and the government of China’s future plans and priorities.

HBL is also set to open its first branch in the Chinese city of Urumqi, the capital of Muslims-dominated Xinjiang region, in the next few months.

A spokesman at the NBP said the bank is also in the process of meeting the regulatory requirements of China and Pakistan to open a full-fledged branch in Beijing. The bank already has a representative office in China.

@waz can you move this thread to Pakistan Economy

 

[marbella]

Islamic banking in Urumqi will be a huge success..