Pakistan, Kazakhstan trade set to grow with new banking MoU

February 23, 2026 (MLN): Meezan Bank (PSX: MEBL), Pakistan’s largest Islamic bank, and Bank CenterCredit (BCC), one of Kazakhstan’s leading financial institutions, have signed a Memorandum of Understanding (MoU) to strengthen correspondent banking relations.

The MoU aims to support the growing bilateral trade between Pakistan and Kazakhstan.

The agreement provides a framework for collaboration in key areas including trade finance, cross-border payments, and facilitation of financial services for corporate and commercial clients operating between the two countries.

By enhancing banking channels, the partnership aims to support exporters and importers, reduce transaction costs, and explore new opportunities to foster economic cooperation, according to the press release.

Bilateral trade between Pakistan and Kazakhstan has been increasing steadily, with Pakistan primarily exporting textiles, rice, and other commodities, while importing minerals, machinery, and raw materials from Kazakhstan.

Improved correspondent banking services are expected to play a vital role in supporting this trade growth and enabling smoother financial transactions between businesses.

Speaking on the occasion, Muhammad Abdullah Ahmed, Group Head of Transaction & International Banking at Meezan Bank, said:

“This MoU represents an important milestone in strengthening financial ties between Kazakhstan and Pakistan. Enhanced correspondent banking cooperation will play a vital role in supporting bilateral trade and fostering closer economic relations.”

Ruslan Vladimirov, President of Bank CenterCredit, added:

“We are pleased to partner with our Pakistani counterparts to expand correspondent banking services and explore new opportunities for collaboration. This partnership will help create more efficient and secure banking channels for businesses and financial institutions in both countries.”

Both banks reaffirmed their commitment to operating in accordance with international regulatory, compliance, and risk management standards, ensuring transparency, reliability, and security in cross-border transactions.

The MoU is expected to facilitate greater trade finance support, improve cross-border payment efficiency, and strengthen financial integration between Pakistan and Kazakhstan, contributing to increased trade and investment flows in the region.

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