ISLAMABAD: Shaikh Muhammad Shariq, Vice President and Chief Representative of the National Bank of Pakistan (NBP) in China said on Sunday that the China International Fair for Trade in Services (CIFTIS) has emerged as a key platform to promote enhanced financial cooperation between Chinese banks and their international counterparts. Addressing a seminar titled ‘Investment in Pakistan’, he said, “This year’s exhibition not only showcases innovative financial services, but also facilitates meaningful dialogues and partnerships to strengthen global financial ties, especially for NBP.” “As the National Bank of Pakistan seeks to navigate an increasingly interconnected world, CIFTIS offers a unique opportunity to explore joint projects that can foster mutual growth and stability in the financial sector,” he added. He said: “NBP can take the opportunity to showcase its services, connect with potential business partners and explore new avenues of cooperation with Chinese financial institutions.” “We are constantly working on technological modernization to become a digitally competitive, agile and secure bank driven by data and innovation. The upgrade of the core banking application will continue until 2024, together with the strengthening of our cyber security. Substantial investments in hardware and software will continue this year. ” established He mentioned, “With a total asset base of PKR 6.7 trillion ($23.6 billion) and representing 14% of total industry assets, NBP is the largest capitalized bank in Pakistan with net assets of PKR 382.8 billion (1, 36 billion USD). “This year, NBP participated in two main CIFTIS locations: Shougang Park, where NBP presents its portfolio to all international banks, and the main national convention center,” China Economic Net reported. It should be mentioned here that Shougang is the main venue for financial institutions to present their services at CIFTIS 2024, which is held from September 12 to 16.
