KARACHI: Pak China Investment Company Ltd (PCICL) and Meezan Bank, have entered into a strategic cooperation alliance for promotion of bilateral trade and investment between Pakistan and China.
Managing Director of PCICL Li Peng and CEO of Meezan Bank Ariful Islam signed the agreement in this regard, said a statement issued here on Monday.
As per the agreement, PCICL and Meezan Bank shall strive to facilitate businesses of both the countries in undertaking strategic projects, particularly those covering China Pakistan Economic Corridor (CPEC).
PCICL and Meezan Bank shall collaborate in various areas of bilateral cooperation, where PCICL will benefit from Meezan's commercial banking operations and extensive branch network of over 550 branches, corporate & investment banking, trade, commercial/ SME financing, treasury operations etc. Whereas PCICL with a strong presence in China through its parent organization China Development Bank (CBD); holds a strong industry standing and will introduce Chinese investors/corporations to Meezan Bank in order to mutually explore business avenues for greater cooperation and benefit via CPEC projects.
During their addresses at the ceremony, Ariful Islam and Li Peng both highlighted the importance of this strategic alliance, which will not only provide multiple and significant business opportunities to Meezan Bank and Pak China Investment Company Ltd., but will also play a pivotal role in further strengthening the relations between the two countries by providing diverse array of Individual, SME, Commercial, Corporate, China Advisory and & Investment services.
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