BEIJING: Bank of China is all set to open its branch in Karachi soon and gradually expand its network to other cities of the country.
Finance Minister Senator Muhammad Ishaq Dar Saturday held a meeting with Bank of China President Tian Gouli at its headquarters here and conveyed the official approval in this regard, according to a statement issued by the Finance Ministry.
It may be added that Chairman Gouli in his last visit to Pakistan had expressed the desire for launching banking operations in Pakistan and sought SBP's permission.
The Finance Minister in the meeting conveyed official approval/permit from the State Bank of Pakistan (SBP).
Ishaq Dar welcomed the decision by Bank of China to commence their banking operations in Pakistan.
He also extended invitation to Tian Gouli to visit Pakistan and himself inaugurate the first branch of the Bank of China in Karachi, adding the event would be held soon. The finance minister was extended a warm welcome on arrival at the Bank of China headquarters by Li Gouli and other senior officials.
During the meeting, Tian Gouli and members of his team highly praised the economic turnaround and stability achieved by Pakistan and expressed appreciation that the economic indicators were moving in the right direction. Tian also thanked Minister Dar for conveying him the permission for setting up the Bank of China Branch in Pakistan.
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