State Bank Governor inaugurates AL Habib Exchange Company
AL Habib Exchange Company (Private) Limited has officially
commenced operations across ten branches in four major cities of Pakistan:
Karachi, Lahore, Islamabad, and Peshawar.
Following Bank AL Habib's announcement last September, the
Board of Directors unanimously approved the establishment of an Exchange
Company as a wholly-owned subsidiary, with an authorized capital of PKR 1
Billion.
With licenses issued by the State Bank of Pakistan and the
Certificate of Incorporation from the Securities and Exchange Commission of
Pakistan (SECP), AL Habib Exchange received clearance to launch its operations.
Saudi
Exim Bank and ITFC grant trade finance credit line to Bank Al Habib
AL Habib Exchange, an initiative by Bank AL Habib, aligns
with the State Bank of Pakistan's structural reforms in the Exchange Companies
sector and aims to meet the genuine foreign exchange needs of its customers.
The main branch of AL Habib Exchange was inaugurated by the
Honorable Governor of the State Bank of Pakistan, Mr. Jameel Ahmed, in the
presence of Mr. Abbas D Habib, Founder Member and Chairman of Bank AL Habib,
Mr. Qumail R. Habib, Executive Director of Bank AL Habib, Mr. Mansoor Ali Khan,
Chief Executive of Bank AL Habib, Syed Furqan, Chief Executive Officer of AL
Habib Exchange, and senior officials from SBP, Bank AL Habib, and AL Habib
Exchange.
Faysal
Bank to establish wholly-owned exchange company
This occasion heralds the advent of a new era in foreign
exchange services as AL Habib Exchange strives to establish new benchmarks of
excellence and reliability in the industry.
Source: Daily Pakistan