Beijing, September 10, 2012: Habib Bank Limited (HBL), Pakistan’s
largest commercial bank, signed an agreement with UnionPay (UP) to issue UP
cards in Pakistan and in global markets where HBL has presence. This new
partnership is a "major breakthrough in forging the ties between the
financial institutions in China and Pakistan" said Pakistan's ambassador,
Mr Masood Khan on this occasion. He deeply appreciated and lauded HBL’s
pioneering efforts in establishing earlier linkages with Xinjiang Autonomous
Region and major Chinese Banks like ICBC, ABC and Bank of China.
The agreement was signed by HBL President and CEO, R. Zakir Mahmood and UP President Xu Luode. Present at the signing ceremony from HBL were its Chairman, Mr. Sultan Ali Allana, President and CEO designate, Nauman K. Dar and Head-Payment Services, Faiq Sadiq. UP executives attending the ceremony included Mr. Su Ning, Chairman, Cai Jianbo, Executive Vice President and Larry Wang, Vice President.
"This alliance will strengthen our
ties and give HBL the ability to advance its financial inclusion plan by
delivering innovative and affordable product solutions to its customers”, said
Mr. Sultan Ali Allana, Chairman HBL.
HBL plans to roll out UP Cards and solutions by year end and expects to expand its offering in all major markets, including South Asia, Gulf and Europe by the middle of 2013.
HBL plans to roll out UP Cards and solutions by year end and expects to expand its offering in all major markets, including South Asia, Gulf and Europe by the middle of 2013.
Addressing the participants, Xu Luode mentioned that UnionPay is not just a card scheme.
“Our value added products like Money Express, Dual Currency cards and
E-Commerce Gateway are indeed playing a pivotal role not only in the
development of the E-banking industry but also of the economies of participating
countries. We are extremely delighted to partner with HBL to issue and acquire
UnionPay cards in Pakistan”, said Luode.
About Union Pay:
Union Pay operates the
national inter-bank clearing and settlement system, develops the worldwide
Union Pay Card acceptance network, promotes the issuance and usage of the Union
Pay Card as well as other innovative payment solutions, so as to provide
quality, efficient and safe payment services to cardholders. To date, the total
number of the Union Pay Card issued has exceeded 3.2 billion. In addition,
Union Pay has enabled the Union Pay Card's acceptance in over 131 countries and
regions through extensive cooperation with about 400+ institutions around the
world. Additional information may be found at: www.unionpay.com.
About HBL
HBL is Pakistan’s largest
commercial bank with a network of 1,470 branches across the country and a
presence in 24 countries. HBL has over 5 million customer relationships. The
Bank enjoys a leadership position in Pakistan’s Retail and Corporate Banking
sectors and a strong presence in Consumer, Commercial and Investment Banking. Additional information may be found at www.hbl.com
For media
contacts:
Asiatic PR
ٓKhurram Zia or Afsar Khan 02135837674
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