Cooperation: NBP signs MoU with ICBC

KARACHI: National Bank of Pakistan (NBP) and Industrial and Commercial Bank of China (ICBC) signed a memorandum of understanding (MoU) on bilateral cooperation here on Tuesday.  According to a press release, the areas of mutual cooperation include trade finance, cash management and international payments, corporate lending and project financing, infrastructure financing, investment banking and renminbi (RMB) services. The two banks have also agreed to expand their business cooperation in other regions of the world. NBP President Syed Ahmed Iqbal Ashraf and ICBC Deputy CEO Li Xiao Xin signed the MoU on the completion of ICBC’s five years of existence in Pakistan, the statement said.  ICBC is the world’s largest bank with total assets of more than $3.4 trillion.

Published in The Express Tribune, May 26^th, 2016.

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