PR No. 265 CHAIRMAN STANDARD CHARTERED BANK CALLS ON THE PM Islamabad
Mr. Jose Vinals, Chairman, Standard Chartered Bank (SCB) called on Prime Minister Muhammad Nawaz Sharif today in Islamabad today.
While welcoming the Chairman on his visit to Pakistan, the Prime Minister stated that Standard Chartered is one of the oldest and the largest international banks in Pakistan. The Prime Minister appreciated the Standard Chartered Bank’s continuous commitment to introduce new technology and innovative financial products including Islamic banking in Pakistan compatible with global standards.
The Prime Minister stated that regulatory and supervisory framework of Pakistan is very progressive and provides supportive environment to the international investors.
The Prime Minister further stated that Pakistan’s banking sector has shown impressive performance over the period and proved its resilience with stable outlook. Due to growth focused policies, Pakistan has been upgraded to the list of emerging markets, added the Prime Minister.
Pakistan stock market was ranked as 5th best performing stock market in 2016 and our current GDP growth rate stands above 5.3%, stated the Prime Minister.
The Prime Minister informed the Chairman that sound capital base, remarkable growth in assets and profitability and compliance with international standards poised Pakistan’s banking sector in a very competitive position in the region for investors. The continuing economic growth with increasing foreign investment in the energy and infrastructure sectors under CPEC, Pakistan is offering a wide range of investment opportunities, added the Prime Minister.
Chairman, Standard Chartered Bank thanked the Prime Minister for his warm welcome and expressed to further enhance cooperation with Pakistan.
Chief Executive Officer and Managing Director (North), Standard Chartered Bank accompanied the Chairman.