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KARACHI: HBL, the country’s largest bank, will represent Pakistan at the 18th Annual Council Meeting of the Shanghai Cooperation Organization Interbank Association (SCO-IBA) scheduled to be held on 23rd August 2022 in Tashkent, Uzbekistan.

As the only commercial bank on this forum and Pakistan’s largest bank, HBL is positioned to play an integral role in promotion of regional trade, investment, and finance.

Sultan Ali Allana, Chairman HBL will address the 18th Annual Council Meeting of SCO-IBA in Tashkent.

HBL's balance sheet crosses Rs5tr in H12022

It’s an honour and pride for the country that the HBL represents Pakistan on SCO-IBA. HBL became a partner bank under SCO-IBA on August 8, 2014, and later elevated as a member bank during the 14th annual council meeting of SCO-IBA held from 4thto 7th June, 2018 in Beijing, China. HBL has been selected because it can play the unique role in the region.

The Shanghai Cooperation Organization (SCO) is an intergovernmental organization that has been making efforts to ensure peace and stability in the region, reduce poverty, and ensure food security. Business and economic opportunities between countries is the real potential of this organization.

The creation of the SCO was announced in June 2001 in Shanghai. The SCO currently comprises eight member states (China, Uzbekistan, Kazakhstan, Kyrgyzstan, Russia, Pakistan, Tajikistan and India). With a combined population of over 3.3 billion, the SCO member states cover nearly half the human population. It is the largest regional establishment in the world in terms of geographical coverage and population and is also one of the world’s most powerful organizations. Pakistan officially became a member state of SCO in June 2017.

The SCO-IBA enhances sustainable development agenda through collaboration with multilateral institutions, working on unified approaches as a collective forum. This includes promotion of regional trade and investments and exploring new mechanisms to develop trans-national mega projects.

HBL was the first commercial bank of Pakistan established in 1947. Over the years, HBL has grown its branch network to 13 countries and maintained its position as the largest private sector bank in Pakistan with over 1,650 branch network and over 2,100 ATMs globally, serving 27 million customers worldwide.

Copyright Business Recorder, 2022

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