Bank of China to open first branch in Pakistan

Bank of China (BoC) will be setting up its first branch in Pakistan as it has received its banking license from the State Bank of Pakistan (SBP).


Finance Minister Ishaq Dar met with Bank of China Chairman Tian Guo Li in Beijing, where the latter was invited to visit Pakistan to inaugurate bank’s first branch in Pakistan, expected to be set up in Karachi.

The bank is expected to commence its business after meeting regulatory requirements, and is expected to start its operations in branch mode, said a statement released by SBP.

The SBP statement added that BoC is a subsidiary of China Central Huijin, an investment arm of the Chinese government.



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