Meezan Bank signs trade accord with Asian Development Bank

KARACHI: Meezan Bank Limited (MBL) and Asian Development Bank (ADB) recently signed a trade accord in order to facilitate the opening of Letters of Credits.
Under the agreement, the Asian Development Bank would indirectly confirm Meezan Bank Letter of Credit.
ADB would effectively act as a guarantor for import LC’s established by Pakistaani businessmen, thereby facilitating Pakistani trade transactions. The facility would provide much needed support to Pakistani importers in these challenging times for the global economy.
The agreement was signed by M. Saleem Khan, Regional Manager-North and Mustafa Rabbani, Area Manager, Islamabad on behalf of MBL and Rune Stroem, ADB’s Country Director signed on behalf of ADB.
Meezan Bank Limited is the largest and fastest growing Islamic Bank of Pakistan with its branch network of 166 branches in 40 cities across Pakistan.

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