NBP, Bank of China sign agreement

KARACHI: The National Bank of Pakistan (NBP) has signed a memorandum of understanding (MoU) with the Bank of China Pakistan (BoCP) to promote banking services in the country, a statement said on Monday.

The MoU will focus on developing niches and creating synergies between the two institutions. It will strengthen the ironclad brotherhood between the two nations, it added. Saeed Ahmad, president and CEO of NBP, and Dr Tao Li, country head and CEO of BoCP, signed the agreement, it said.

Ahmad congratulated the management of BOC and said, “Both the institutions have developed a strong mutually beneficial relationship and are willing to extend bilateral cooperation.” He also said the MoU would 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.