Meezan Bank, ADB facilitating Pakistani importers

admin — Sat, 30 May 2009 08:07:48 +0000

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.

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Meezan Bank, ADB facilitating Pakistani importers