Habib Metropolitan Bank (HMB) and Citibank NA Pakistan (Citi) announced the signing of Asia Letter of Credit Relay Programme agreement that will allow HMB to access Citi's centralised processing platform in Penang Malaysia and efficiently manage its L/C's across the Asian region, says a press release.
The agreement is one of the firsts whereby a Pakistani bank will conduct trade business in Asia by leveraging on Citi's processing platform. President, HMB Pakistan, Kassim Parekh said "HMB and Citi have a long standing relationship based on mutual trust and successful collaborations - these along with Citi's operational infrastructure and superior technology were the key drivers behind our decision to partner with Citi."
Country Officer and MD Citi Pakistan, Arif Usmani said: "As a global bank operating in 100 countries, Citi is well-placed to offer innovative solutions. This deal and its overarching benefits to HMB underscores our commitment to our clients and demonstrates HMB's strategic approach to its business."-PR
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