ISLAMABAD, Sep 15 (APP):Shaikh Muhammad Shariq, Vice President of National Bank of Pakistan (NBP) and Chief Representative in China Sunday said that China International Fair for Trade in Services (CIFTIS) had emerged as a pivotal platform, fostering enhanced financial cooperation between Chinese banks and their international counterparts.
Addressing a seminar titled ‘Investment in Pakistan’, he said, “This year’s fair not only showcases innovative financial services but also facilitates meaningful dialogues and partnerships to strengthen global financial ties, particularly for NBP.”
“As the National Bank of Pakistan seeks to navigate an increasingly interconnected world, CIFTIS offers a unique opportunity to exp
lore collaborative ventures that can drive mutual growth and stability in the financial sector,” he added.
He said, “NBP can leverage the opportunity to showcase its services, connect with potential business partners, and explore new avenues for collaboration with Chinese financial institutions.”
“We are constantly working on technology upgradation to position ourselves as a digitally competitive, agile, and secure bank driven by data and innovation. The upgrade of the core banking application will continue through 2024, alongside the strengthening
of our cyber security. Substantial investment in hardware and software will continue this year,” he stated.
He mentioned, “With a total asset base of PKR 6.7 trillion (USD 23.6 billion) and accounting for 14% of total industry assets, NBP is the highest capitalized bank in Pakistan with PKR 382.8 Bn (USD 1.36 Bn) in net assets.”
“This year, NBP has participated in two major locations of CIFTIS: the Shoug
ang Park where NBP presents its portfolio with all international banks, and the main National Convention Center,” China Economic Net reported.
It is to mention here that Shougang is the main venue for financial institutions to present their services in CIFTIS 2024, which i
s scheduled from September 12-16.
