NBP opens branch in Riyadh

KARACHI: Governor SAMA Dr Muhammad Bin Suleiman Al Jasser has inaugurated the first branch of National Bank of Pakistan (NBP) Riyadh at main King Fahad Road, in front of Kingdom Tower at Riyadh, Kingdom of Saudi Arabia, said a bank's announcement here Tuesday.

Speaking on the occasion, the Governor appreciated the contribution from Pakistanis in establishment of SAMA. He also anticipated that opening of the branch raises his expectations from NBP for more contribution in trade and business sector of both countries and further strengthen both countries long

lasting and stronger friendship bond. Dr Muhammad Bin Suleiman AlJasser specifically paid tribute to Anwar Ali for his devotion, commitment and hardwork in tough period from 1956-78 and shared with the audience that his death while representing KSA at IMF and WB forum showed his commitment for KSA and especially for SAMA.

He also specifically mentioned Isbah ud Din's contribution in establishing SAMA Legal framework and Muhammad Umar Shabaan for his contribution to Islamic Development Bank. With a total domestic branch network of 1289 and 23 overseas branches and representative offices in 4 countries, NBP will explore and cater to 1.5 million Pakistani working in the Kingdom. It may be noted that in Year 2005, the Government of Pakistan had applied for the license and in response to the same, everlasting friendship and brotherly bilateral association, NBP got the license for setting up its branch.

NBP as well as Pakistan government are wholeheartedly obliged and thankful to "His Majesty King Abdullah bin Abdul-Aziz Al Saud, the custodian of the two holy mosques and Governor Sama "His Excellency Dr Muhammad Bin Sulaiman AlJasser" for giving this opportunity to explore and contribute for almost 1.5 million Pakistani workers who are working in KSA as well as for Pakistan's economy in return.

In his welcome note from Charged D. Commission Ayaz Muhammad Khan reiterated that opening of NBP Riyadh KSA branch will help in improving trading partnership between both countries and stressed bank's staff to focus on enhancing remittances through NBP Riyadh KSA which are badly required for the support of our economy.

Copyright APP (Associated Press of Pakistan), 2011