ICBC expands its network in Pakistan

[Kompromat]

ICBC expands its network in Pakistan
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Salim Ahmed

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Saturday, February 01, 2014 - Lahore—President Industrial & Commercial Bank of China (ICBC) in Pakistan He Shenghu and General Manager ICBC Lahore Sales & Service Centre Wang Weiming met Provincial Minister for Education and Tourism Rana Mashhood Ahmed Khan here today. Chinese Commercial Counselor in Pakistan Mr. Lee, President Pak-China Chamber of Commerce & Industry Shah Faisal Afridi and Relationship Manager ICBC Aqdas Jehanzeb were present on the occasion.

President ICBC He Shenghu informed Rana Mashhood Ahmed Khan that their bank is one of the largest banks in the world and after Islamabad and Karachi, it is going to open ICBC branch in Lahore where services of Corporate Financing, Investment Banking, Foreign Deposits, Project Loans and Working Capital Loans will be available. He said that the facility of business and banking will be available to the exporters and importers in Chinese currency instead of dollars. Chinese Commercial Counselor Mr. Lee said on the occasion that Pakistan is the only friendly country of China which never deviated from its principled stance about China. He said that in future China will be the strongest super power whereas China has already proved of being an economic giant in the world.

Provincial Education Minister Rana Mashhood Ahmed Khan while terming the expansion of network of ICBC in Pakistan a welcome step expressed the hope that as a result of promotion of exports and imports in Chinese currency, the monopoly of dollar on Pakistan’s economy will decrease gradually. He said that Pakistani businessmen importing Chinese products through banks of Dubai in dollar will be able to import Chinese products and export Pakistani products to China through ICBC in Pak rupees.

He said that concrete measures have been taken for long-term cooperation with China under the dynamic leadership of Prime Minister Muhammad Nawaz Sharif which has opened doors for investment and joint ventures in various development sectors in Pakistan.

ICBC expands its network in Pakistan