HBL becomes first bank to offer end-to-end RMB intermediation in China

MG News | March 22, 2021 at 12:13 PM GMT+05:00

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March 22, 2021 (MLN): Habib Bank Limited (HBL) became the first Pakistani bank to open a branch in Beijing, China.

Taking to its official Twitter handle, HBL announced that the bank has created history by being the first and only bank from Pakistan to have a branch in Beijing and one of the three banks from South Asia and the MENA region to offer end-to-end RMB intermediation in China.

It is pertinent to note that China is the lynchpin of HBL’s international strategy and the bank is the largest executor of CPEC related financing in Pakistan worth over USD 6 billion.

In March 2021, HBL opened its second branch in Beijing. The Beijing branch will allow HBL to negotiate with other regulators, key state-owned enterprises (SOEs) and leading financial institutions involved in the China-Pakistan Economic Corridor (CPEC) and across other Belt and Road Initiatives (BRIs).

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