HBL, BOC sign deal to boost trade

KARACHI: HBL and China's Bank of China (BOC) have agreed to cooperate on trade and investment projects in South Asia, the Middle East, Central Asia and Africa, a statement said on Wednesday.

The two banks signed a memorandum of understanding (MoU) for strategic cooperation at the BOC headquarters in Beijing, aiming to facilitate trade opportunities and deepen ties in areas such as environmental, social and governance (ESG), technology and training, they said in a joint statement.

Liu Jin, Vice Chairman and President of BOC, Sultan Ali Allana, Chairman of HBL, and Muhammad Aurangzeb, President and CEO of HBL, represented their respective institutions at the signing ceremony.

BOC is one of the largest banks in China with a presence in over 60 markets around the world, while HBL is Pakistan's largest bank with operations in 15 countries, including China, where it has branches in Beijing and Urumqi.