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 [...]