UK bank to invest $15mn in Pakistan
ISLAMABAD: The UK-based Innovative Investment Bank would initially invest $15 million which would increase further substantially in future. Its main areas of services would be financial services, wholesale distribution, retail activities, management and development of commercial as well as residential property.
This was informed to caretaker Prime Minister Mohammedmian Soomro here on Wednesday in a meeting with Syed Mehboob Hussain, CEO of Innovative Investment Bank.
Soomro said that the banking industry, which has been transformed into a vibrant private sector enterprise as a result of the market based reforms, is playing an important role in the economic growth of the country.
Pakistan with its growing market, strong economy and emerging middle class offers opportunities for business and investment, he said adding that due to the government policies of deregulation, privatisation and liberalisation, foreign banks are investing in Pakistan. Continuity and consistency in policies, coupled with an investment-friendly and hassle-free environment has made Pakistan a destination of choice for foreign investors, the Prime Minister said. staff report
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| Wednesday, February 15, 2006
