SBP grants authorization for the launch of EXIM Bank
The State Bank of Pakistan has officially granted its
"Permission for Commencement of Business" to the Export-Import Bank
of Pakistan (EXIM), marking the beginning of the bank's operations aimed at
supporting Pakistan's exports.
Initially, EXIM will concentrate on providing Trade Credit
Insurance products to both exporters and commercial banks. Furthermore, the
bank will play a vital role in the transition of the Export Finance Scheme of
the State Bank of Pakistan (SBP).
Bank
Jobs: Trade Finance Professionals (Freelancers), Euro Exim Bank – Pakistan
The Export-Import Bank of Pakistan is one of approximately
64 institutions of its kind globally. It will be staffed by top trade
financiers and underwriters in the country and is expected to evolve into a
crucial risk management institution for trade finance in Pakistan. This will be
achieved by implementing well-established and proven products designed to
safeguard the financial stability of exporters and banks, create security
measures, and facilitate transaction-based lending.
Moreover, the bank will have the capability to attract
contingent risk capital from the international market, thereby establishing a
level playing field for Pakistani exporters in comparison to their
international counterparts. The initiation of business operations is the
initial step in this ambitious direction.
State
Bank grants approval for sale of BankIslami shares to JS Bank
Dr. Shamshad Akhtar, the Minister of Finance, Revenue &
Economic Affairs, has recognized the significance of this policy institution
and has shown a keen interest in the bank. She has met with its management to
underscore the importance of building a strong foundation based on robust
governance and competence.
Source: Pakistan Observor