Pakistan's Habib Bank opens branch in China's Urumqi

[Shotgunner51]

Pakistan's Habib Bank opens branch in China's Urumqi
By PTI | Sep 21, 2016, 06.45 PM IST
READ MORE ON » Silk Road economic belt | Azad Kashmir | Habib Bank | Credit Insurance Corporation | CPEC | China export

BEIJING: Pakistan's Habib Bank has set up a branch in China's Muslim-majority Xinjiang Uygur Autonomous Region's capital of Urumqi which is the starting point of the $46 billion China-Pakistan Economic Corridor (CPEC).

The branch, unveiled at the ongoing China-Eurasia Expo, makes Habib Bank the first foreign bank from a country on the Silk Road Economic Belt to establish a branch in China, state- run Xinhua news agency reported.

CPEC links Xinjiang with Gwadar port in Balochistan province through Azad Kashmir (Azad Kashmir) with road, rail and pipeline links.

Nauman Kramat Dar, Habib Bank's chief executive officer, said that Xinjiang's development will surpass that of China's other regions in the next five years and it was the best time to build a branch in the region.

As an important area in Central Asia and South Asia, Urumqi has obvious geographical advantages, Dar said, adding that setting a branch here will allow Habib Bank to participate more in the development of Xinjiang, Pakistan and Central Asia.

Habib Bank also signed a $500-million cooperation deal with China Export and Credit Insurance Corporation at the expo.

Established in 1947, Habib Bank is Pakistan's biggest commercial bank, accounting for more than 40 per cent of the country's bank market.


Edit: Warmest welcome!! Shotgunner51

http://economictimes.indiatimes.com...nch-in-chinas-urumqi/articleshow/54447537.cms

 

[WAJsal]

Nauman Kramat Dar, Habib Bank's chief executive officer, said that Xinjiang's development will surpass that of China's other regions in the next five years and it was the best time to build a branch in the region.

As an important area in Central Asia and South Asia, Urumqi has obvious geographical advantages, Dar said, adding that setting a branch here will allow Habib Bank to participate more in the development of Xinjiang, Pakistan and Central Asia.

Good idea, plus it should serve the Pakistani's working in large number in Xinjiang province.
PS: for those who didn't know a large number of Locals and Gilgitis travel through Khunjerab pass mainly because of livelihood on the other side of the border and also that a large number of Uighur's have settled in Gilgit city and they travel often to the other side to meet their families and etc, etc.
My Father recently went to the historic city of Khunjerab; also people of GB can travel to Xinjiang without any worries. No Visa is needed.
All in all a good idea and good to see.
regards

 

[Shotgunner51]

5th China – EuroAsia Expo: Pakistan at the centre stage of connectivity between Asia-Europe

Posted By: News Deskon: September 21, 2016

ISLAMABAD (APP): Speaker National Assembly Sardar Ayaz Sadiq Wednesday said that Pakistan is committed to deepen an unprecedented regional cooperation and connectivity in Asia and beyond.

The Speaker remarked that China-Pakistan Economic Corridor (CPEC) is manifestation of Pak-China time tested friendship and a demonstration of our resolve to broaden cooperation in all spheres of development.

READ MORE: CPEC Digital corridor to be completed by June 2018​

Ayaz Sadiq was speaking at the 5th China-Eurasia Expo, said a message received here from Urumqi, China.

He highlighted that robust macroeconomic and financial cooperation among nations is prerequisite to secure regional and global economic stability.

Referring to Pak-China strategic and inter-parliamentary relations, he added that this relation enjoy across-the-board political and popular public support that is unique and sets it apart from the rest of the world.

“The CPEC is surely going to open up new vistas of development for the entire region,” he added.

The Speaker remarked that Pakistan welcome the participation of public and private companies from across the region to invest in Pakistan and make the most of this regional connectivity.

READ MORE: Pakistan Vision 2025: SMEDA 5 years plan for SME under CPEC​

He urged the need for boosting trade, investment and industrial integration within Asia and Europe through trade liberalization, allowing greater access to markets and investment- friendly policies.

Ayaz Sadiq highlighted that the investment policy in Pakistan has been immensely conducive, welcoming and consistent for the last few years with trade liberalization, de-regulation and privatization being its cornerstone.

He said that the recently awarded GSP Plus status to Pakistan by the European Union is a demonstration of the confidence of the international market in the quality of Pakistani products.

Ayaz Sadiq urged the participants states to muster their respective expertise vis-a-vis oversight on the executive and influencing governments to invest more in promoting peace, harmony and development for secure and sustainable future of coming generations.



https://timesofislamabad.com/5th-ch...re-stage-connectivity-asia-europe/2016/09/21/

Good idea, plus it should serve the Pakistani's working in large number in Xinjiang province.
PS: for those who didn't know a large number of Locals and Gilgitis travel through Khunjerab pass mainly because of livelihood on the other side of the border and also that a large number of Uighur's have settled in Gilgit city and they travel often to the other side to meet their families and etc, etc.
My Father recently went to the historic city of Khunjerab; also people of GB can travel to Xinjiang without any worries. No Visa is needed.
All in all a good idea and good to see.
regards

Exactly! With CPEC progressing, this region PAK-CAS-Xinjiang is expected to prosper fast. I am glad to see more of our iron bros doing business, working and studying here in China. All the best to Habib Bank in their expansion plan!

 

[Windjammer]