The Bank of Punjab has signed a Memorandum of Understanding (MoU) with EXIM BANK of Pakistan Limited to assist in the growth of EXIM Bank Pakistan’s business structure and business model. Under the terms of the MoU, BOP and EXIM will work with multilateral and bilateral institutions to build their product and service networks, as well as meet with all of the country’s major chambers of commerce and financial institutions to discuss future offerings.
On March 10th, 2021, Group Head, Treasury & FI and Senior Joint Director of EXIM Bank Limited formally signed the MoU at BOP’s Head Office in Lahore. On the occasion, the presidents of both banks were also present.
The aim of this MoU is for BOP to provide technical assistance to EXIM in the areas of IT infrastructure growth, banking policy development, and finalizing insurance policies that it will bring to market. Work with the State Bank of Pakistan to develop a set of Prudential Regulations that will help EXIM Bank’s needs in meeting its mandate requirements, exploring new export opportunities, and cooperating to establish a national distribution network with stakeholder input in order to bring EXIM into action.
Zafar Masud (President & CEO – BOP) said that the collaboration between the two institutions would strengthen their commitment to serve all exporters, with a special emphasis on small exporters who need equipment financing to improve their productive capacity and contribute directly to the country’s economic development.
