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China agreed to open Pakistani Banks branches in China: Dastagir

ISLAMABAD: Federal Trade Minister Khurram Dastagir Khan has said that agreement with China to open Pakistani banks branches in Islamabad has been finalized, adding that Pakistan will open its first bank branch of Habib Bank this year in Chinese city Shahrar Machi.

Addressing a press conference in Islamabad, Trade Minister Khurram Dastagir said that agreement with China regarding opening Pakistani banks branches in China has been finalized, under which Habib Bank will open its first bank branch in China. He told that China has given three important benefits to Pakistani banks under agreement of 2009. Asset limit for Pakistani banks has been reduced from 20 billion dollars to 15 billion dollars, while after a year, Pakistani banks will be able to open local accounts for transactions in Chinese currency.

On this eve Chairman Habib Bank Sultan Ali Alana said that Pakistani enterprises will get better facilities due to operations in China.