HBL Represents Pakistan At SCO-IBA Meeting

Habib Bank Limited also called HBL participated in the Shanghai Cooperation Organization Interbank Association (SCO-IBA) as a representative of Pakistan on the forum.

HBL called it a huge privilege and accomplishment for the bank to be able to represent Pakistan at an international banking forum, not only this HBL is the first and only commercial bank to do so.

Mr. Sultan Ali Allana, Chairman HBL, participated as a representative of the bank at the forum’s virtual meeting. The meeting was held on the 30th of October.

According to sources, the participant countries signed a few important papers during the meeting, which included; Interbank Consortium of the Shanghai Cooperation Organization’s roadmap for SCO economies to help get over the outcomes of the COVID19 pandemic and the collective program to promote usage of national currencies in SCO region.

Chairman HBL in his statement said, as quoted by ProPakistani “Pakistan put in place impactful measures against COVID-19 in fiscal and monetary space, thus ensuring liquidity in markets. I am proud to say HBL partnered with the Government of Pakistan on many of these initiatives e.g. delivering +PKR 145 billion to +12 million low-income beneficiaries. HBL also introduced measures for the financial well-being of its customers (e.g. payroll financing) and staff (medical treatment for staff and their dependents). Moreover, we support the SCO-IBA’s step towards expanding settlements in national currencies as it will enhance trade between member countries. Members countries should also work towards making RMB a currency of choice between SCO member countries.”

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