Meezan, Freedom Bank partner to boost cross border trade settlements

February 09, 2026 (MLN): Meezan Bank has signed an agreement with Freedom Bank Kazakhstan to open a PKR Vostro Account, in a push to strengthen cross-border banking and trade settlement between the two.

The agreement was formalized on 4 February 2026 at a signing ceremony held at Serena Hotel, Islamabad, attended by senior officials from both institutions, said a press release issued.

The partnership marks a significant step in expanding correspondent banking ties and improving financial connectivity between Pakistan and Kazakhstan.

Under the arrangement, Meezan Bank will offer PKR Vostro account services to Freedom Bank Kazakhstan, enabling faster settlement of trade and commercial transactions, better liquidity management, and greater operational efficiency for businesses and financial institutions operating in both markets.

The initiative is expected to streamline trade-related payments and remittances while enhancing overall settlement efficiency.

Muhammad Abdullah Ahmed, Group Head Transaction & International Banking at Meezan Bank, said the move reflects the bank’s ongoing efforts to broaden its global correspondent banking network and strengthen cross-border payment infrastructure.

He noted that the collaboration will provide secure, reliable and compliant banking channels, benefiting both banking partners and business communities while supporting growing trade links between the two nations.

Timur Agdavletov, First Deputy Chairman of the Management Board of Freedom Bank Kazakhstan, described the partnership as a key milestone in enhancing the bank’s international banking capabilities.

He added that establishing PKR clearing and settlement services will improve support for clients engaged in trade and cross-border business with Pakistan and foster a strong, value-driven correspondent relationship.

The collaboration is expected to boost bilateral trade flows and financial cooperation while reinforcing both banks’ commitment to international banking standards, transparency, regulatory compliance, and robust risk management.

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