Dar inaugurates MCB branch in Dubai

ISLAMABAD: Finance Minister Senator Ishaq Dar on Thursday inaugurated the MCB branch heralding its first wholesale banking operations in Dubai, UAE.
The inaugural ceremony was attended by Sheikh Nahyan Mubarak al Nahyan, Deputy Governor State Bank of Pakistan Riaz Riazuddin, UAE Central Bank officials and a large number of dignitaries.
Speaking on the occasion, Ishaq Dar said that establishment of the branch in Dubai would provide quality banking services to the large Pakistani community and also provide facilitation in sending their remittances back home. He said that other Pakistani banks should also establish their branches in the Middle East and other areas with presence of large Pakistani community as it would help them send their remittances and availing other banking services.
The minister appreciated the role of Pakistanis settled and working abroad whose remittances not only helped build up the foreign exchange reserves but also provided economic sustenance to thousands of their kin in Pakistan. He extended them felicitation on Pakistan’s achievement of highest forex reserves milestone of over $18.7 billion. He also lauded the role of the Pakistani community in the development of UAE.
Earlier in his comments on the occasion, Sheikh Nahyan Mubarak welcomed the opening of the leading Pakistani bank branch in Dubai and said it would be a good addition to the extensive and vibrant local and international banking network in UAE. He hoped that as a leading bank of Pakistan it would promote banking activities in UAE.President of the Bank Imran Maqbool thanked Ishaq Dar, Sheikh Nahyan Mubarak, Riazuddin, senior UAE Central Bank officials and other guests for gracing the occasion.