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Bank of China

Bank of China operations will strengthen bilateral banking relations, says CM Sindh

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Friday said that Bank of China will play its role not only in the economic development of Pakistan, but also be a catalyst in further strengthening bilateral trade and banking relationships. Addressing a gathering organised by Bank of China in celebration of their operations in Pakistan which commenced on November 7 with the opening of the first branch in Karachi, the chief minister said he hoped this will cement ties in the fields of banking and finance between the two…

Central bank grants Bank of China approval to start banking in Pakistan

ISLAMABAD: The State Bank of Pakistan (SBP) on Monday granted Bank of China Limited approval for commencement of banking business in Pakistan. Earlier, the central bank had issued banking license to the China bank in 2017. “The SBP, in exercise of the powers conferred on it by clause (a) of Sub-Section (2) of Section 37 of the SBP Act, 1956, is pleased to declare ‘Bank of China Limited’ as a scheduled bank with effect from September 18, 2017,” a notification stated. The China bank has been given status of scheduled…

Bank of China given licence to operate in Pakistan

ISLAMABAD: State Bank of Pakistan (SBP) on Saturday granted Bank of China a licence to operate in the country to ease the financial requirements of Chinese-led "Belt and Road" projects. "The Bank of China aims to provide differential and specialised banking services to effectively serve the financing needs of China Pakistan Economic Corridor (CPEC) related projects by leveraging on its experience and global technology platform," the central bank said in a statement. The statement outlined the Bank of China's…