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Pakistani bank establishes branch in Xinjiang

IANS  |  Beijing 

A branch of Pakistani Habib Limited opened on Monday in northwest China's Uygur region, local authorities said.

It is the bank's first branch in China, mainly providing financial support to the China-Pakistan Economic Corridor projects, according to the regional banking regulatory bureau, Xinhua reported.

Located in the Urumqi High-tech Industrial Development Zone, the mainly accepts public deposits, makes loans, deals government bonds, provides credit guarantees, and handles foreign currency exchange, the bureau said.

Habib Bank, the largest in Pakistan, had total assets of about $21 billion at the end of 2015.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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