Pakistan, Eurasia and Central Asia: TDAP organises awareness session on banking channels for exporters

KARACHI: Trade Development Authority of Pakistan (TDAP) successfully organised an insightful Awareness Session for exporters, shedding light on the available banking channels for financial transactions between Pakistan, Eurasia and Central Asia.

The event, held on Wednesday at TDAP headquarters, Karachi, witnessed the participation of over 30 attendees in person and more than 50 participants online, underscoring the growing interest and importance of cross-border trade in the region.

Shamwail Sohail, Chief Compliance Officer from the Industrial and Commercial Bank of China (ICBC), served as the key speaker for the session. His expertise and insights added immense value to the event, providing attendees with a comprehensive understanding of the working dynamics of ICBC Pakistan.

Sohail delved into the ways ICBC facilitates Pakistani and Chinese businesses and banks in settling cross-border transactions, as well as meeting the financing needs of both countries. The session, inaugurated by the Director General of Media, Research and Publications Division (MRPD), welcomed both physical and online participants.

The Director General expressed gratitude for the significant turnout and highlighted the importance of such sessions in fostering stronger economic ties between Pakistan, Eurasia and Central Asia.

During the presentation, Shamwail Sohail elucidated on ICBC’s role in arranging Renminbi (RMB) transactions, encompassing buying, selling, borrowing, or lending for participating banks in Pakistan. He emphasized the bank’s commitment to facilitating seamless financial transactions between the two Pakistan, Eurasia and Central Asia.

Addressing the sensitive nature of transactions, Sohail emphasized that all types of transactions with sanctioned countries, customers, entities, and products (sanctioned targets) are strictly prohibited, ensuring compliance with international regulations.

Copyright Business Recorder, 2024