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A container is loaded on to the first Chinese container ship to depart after the inauguration of the China Pakistan Economic Corridor port in Gwadar, Pakistan November 13, 2016. Photo: Reuters / Caren Firouz

Bank of China, others to open branches in Gwadar soon

QUETTA: The Bank of China and other national and international banks would soon open their branches in the port city of Gwadar.

The Chairman Gwadar Port Authority (GPA), Dostain Khan Jamaldini disclosed this in meeting with President Bank of Smit, Zaheer Ismail who called on him during his visit to Gwadar on Thursday.
Mr. Jamaldini said that with the functional of Gwadar Deep Seaport all most all commercial banks of Pakistan would open their branches in the port city while Bank of China is going to start its business very shortly with the opening of its branch. “Business and trade activities would flourish in Gwadar the opening of branches of various national and international banks,” he said.
He said that for the time being the Gwadar Port Oversees and Port Holding has allowed opening of two banks in Gwadar and one of them is Bank of China.
The Chairman Gwadar Port Authority said that the work was initiated on Gwadar Free Zone and work is speedily underway. The construction work would be completed in next few months,” he said adding that Pakistani and Chinese were working in three shifts to complete the construction of the Gwadar Free Zone as soon as possible.
He disclosed that in the first week of December this year the Prime Minister of Pakistan along with Chinese ministers would inaugurate the first International Expo- Centre in the Gwadar Free Zone in which around 100 Chinese companies would take part.
Mr. Zaheer Ismail, the President of the Bank of Smit informed that in the middle of September this year the Bank of Smit and Sindh Bank Would be merged and after that the Smit Bank would become second biggest bank of the country.
He said that Smit bank was taking keen interest in the social sector and soon it would soon extend soft loans to the government employees, small business men and fishermen for the promotion of their business.
Group head of the Smit Bank Kamran Ashraf and Gwadar Bank branch Manager Zameer Rqfiq Siddiq were also present in the meeting.

Source: bexpress.com.pk

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