Nov 17, Colombo: National Bank of Pakistan (NBP) plans to open a branch in the Sri Lankan capital Colombo to boost trade and investment opportunities.
The NBP has all the documentation work in progress and the bank will open a branch when the paperwork is completed, Syed Ibne Hassan, Head of corporate Communication at NBP said in the statement.
A high profile business delegation visiting from Sri Lanka headed by K. Abdul Baiz, Chairman of Puttalam Urban Council held discussions this week with the senior bank officials on ways to increase business activities between the two countries.
The opening of the NBP branch at Colombo will also assist Pakistanis living in Sri Lanka to remit their finances to their home country at fast track, Hassan said.
Besides, the NBP branch will provide extra ordinary facilities to Sri Lankan and Pakistani business communities for the opening of letters of credit and other business documentation, he added.
Baiz appreciated the effort of NBP officials for facilitation of the traders by opening the new branch in Sri Lanka.
He assured his complete support in this regard and informed the NBP officials that he already had a meeting with the Governor of Sri Lanka Central Bank to expedite the approval process.
Baiz also suggested the NBP officials to make separate counters of Islamic Banking in its Sri Lankan branches since Sri Lankan business community is in favor of Islamic mode of banking.