Banking on Pak-China Alliance: NBP Signs Agreement with BOC


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. China has always contributed to the growth and economic development of Pakistan; with the development of Gwadar Port and China Pakistan Economic Corridor (CPEC), being an example of China’s support towards Pakistan. Therefore, in an attempt to take the development further, the National Bank of Pakistan (NBP) and Bank of China Pakistan Operations (BOCP) have signed an MoU to promote banking services in the country.

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The MoU focuses on the developing niches and creating synergies between the two institutions in addition to strengthening the brotherhood between the two nations. Country Head & CEO 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. Dr. Li said:

“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,”  

The MoU was signed by Saeed Ahmad, President and CEO NBP, and Dr. Tao Li, Country Head & CEO BOCP. With 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 also present on the occasion.

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Congratulating the management of BOCP, Saeed Ahmed said that both institutions have developed a strong mutually beneficial relationship and are willing to extend the bilateral cooperation. He further stated that “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.”

With the Bank of China is one of the world’s largest banks with total assets of more than USD 2.9 trillion and NBP being amongst the largest financial institutions in the country with 1,456 branches in Pakistan and presence in 19 countries around the globe. The outcome predicted by both the sides believes that the cooperation will lead to a win-win situation to the two banks and the two nations.

Source: ProPakistani