Improving services : NBP signs MoU with UnionPay

KARACHI: The National Bank of Pakistan (NBP) has signed a memorandum of understanding (MoU) with a Chinese company China UnionPay International (UPI) in a bid to explore innovative and profitable alternate delivery products for the bank’s customers. UPI is a bankcard association established under the approval of the state council and the People’s Bank of China. NBP President Syed Iqbal Ashraf was present at the signing by UPI’s Chief Representative for Africa and Middle East, Li Zhixian and NBP’s Group Chief Mudassir H Khan at the NBP head office. “We want to further strengthen our relationship with China in the financial sector,” said Ashraf. Meanwhile, Zhixian said that based on the system construction and operation as well as the bankcard network, UnionPay actively collaborates with various industrial parties like commercial banks in an effort to formulate and extend UnionPay card standards and regulations.

Published in The Express Tribune, December 19^th, 2014.

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