Daily Times

Karachi: National Bank of Pakistan is poised to open its full-fledged branches in China by the mid of the next year. The branches will be opened in Beijing and Shanghai, informed President NBP, Saeed Ahmed.

Talking to journalists during an informal meeting at NBP Head office on Friday, Saeed Ahmed said that branches will be replaced with the existing representative offices for which necessary measures are in advanced stage.

National Bank is looking at CPEC with keen interest, said Saeed Ahmed adding that that next week he will visit Gwadar to meet with the port authorities and look over the under construction building of the bank in the Gwadar city to facilitate customers in the backdrop of CPEC activities. “We are interested in financing export and import oriented projects at the Gwadar”, he added.

About Prime Minister Youth Business Youth Loan (PMYBL), NBP President said that within a month the scheme with Islamic features will be launched as the element of interest has been major deterrent in the way of optimum utilization. He conceded that the progress of loan disbursement under PMYBL remained slow and has lost the steam. He denied any direct involvement of prime minister in the scheme for loan disbursement.

NBP President informed that the bank’s Payment System and Digitalization department will streamline the functioning of the bank on modern lines. The department will be instrumental in minimizing the rush at the bank branches and eliminate agony of old pensioners as they would get pensions with better services and ease, he added.

Responding to a question about the ATM network, he said that order for 200 new machines has already been placed while obsolete machines will also be replaced. To ensure continuity and connectivity, solar and UPS systems are being installed at all ATM locations, he added.

Replying to a question about the foreign investment, NBP President said that investors from Japan, USA, China and other countries had shown interest but due to political developments in the country no one has shown interest for last two and half months.

Published in Daily Times, August 12^th 2017.