Bank of China will open its branch in Karachi in in Pakistan soon. The official approval of the Pakistani government was conveyed by the country’s finance minister Muhammad Ishaq Dar to Bank of China President Tian Gouli in Beijing recently. The country’s banking regulator State Bank of Pakistan has already approved the grant of permit to the bank to open a branch. The bank is expected to commence its business in branch mode after meeting other regulatory requirements. Bank of China is a subsidiary of China Central Huijin, an investment arm of the government of China. It will be the second Chinese bank to establish a presence in Pakistan.
