Meezan Bank, ADB facilitating Pakistani importers

Posted on May 30, 2009

KARACHI: Meezan Bank and Asian Development Bank (ADB) signed an agreement in order to facilitate the opening of Letters of Credits. According to a press release Friday, under the agreement, the ADB will indirectly confirm Meezan Bank’s letters of credit. ADB will effectively act as a guarantor for import L/Cs established by Pakistani businessmen and the facility will provide much needed support to Pakistani importers in these challenging times for the global economy.

Tags: Asian Development Bank, banks facilitating Pak importers, L/Cs, LC, Letters of Credits, Meezan Bank, Pakistani businessmen, pk importers