Mashreq Bank, Pakistani FM explore new investment avenues

August 20, 2024 (MLN): To discuss Pakistan's economic outlook and explore investment opportunities, the President/GCEO of Mashreq Bank met with Federal Minister for Finance Muhammad Aurangzeb yesterday.

The meeting was also attended by Minister of State Ali Parvez Malik, and Senior officers from the Finance Division and State Bank of Pakistan.

The Minister greeted Ahmed Abdelaal and expressed appreciation for Mashreq Bank's interest in Pakistan's financial landscape and expressed keen interest of the Government of Pakistan to re-engage with Mashreq Bank.

The Minister provided an overview of the country's economic outlook and mentioned recent improvements in macroeconomic indicators and the stability of the currency and financial markets.

He also mentioned the economic policies and initiatives of the government, emphasizing the ongoing efforts to stabilize the macroeconomic environment and enhance investors’ confidence through key initiatives of the government such as: broadening the tax base, improving the ease of doing business, digitalization within the Federal Board of Revenue (FBR), the privatization agenda of the government, and SOEs reforms.

Ahmed Abdelaal of Mashreq Bank, appreciated the government's policies and initiatives to improve investors’ confidence and create a business-friendly environment in the country.

He expressed Mashreq Bank’s interest in deepening its engagement in Pakistan’s financial sector and contributing to the country's economic development.

He also mentioned that Pakistan is among one of the most strategic markets for investment opportunities.

He also discussed the potential areas for investment in Pakistan such as infrastructure, energy, technology, agriculture, and SMEs to enhance collaboration between Pakistan and the UAE for remittances, trade, finance, and Islamic banking.

The Finance Minister underscored the significant potential of Pakistan's IT and Agriculture sectors, calling for increased investment from both local and international stakeholders to drive economic growth.

He reiterated the government's commitment to providing a stable and conducive business environment, assuring that all necessary measures are being taken to facilitate investments.

In conclusion, the meeting highlighted the strong partnership between Pakistan and Mashreq Bank in promoting sustainable economic development.

The dialogue reflected Pakistan’s commitment to prudent fiscal management, investor-friendly policies, and inclusive growth, marking a positive step forward in enhancing economic collaboration.

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