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Pakistani bank gets license for Bahrain

JS Bank of Pakistan has been granted a wholesale banking license by the Central Bank of Bahrain (CBB). The bank can now open a branch in the kingdom. The license will allows the bank to expand its activities as wholesale bank from Bahrain, said a statement. The proposed branch is expected to contribute in strengthening the relationship with the Middle East and North Africa (Mena) region and to engage with existing and potential investors, it said. Special focus will be given to regional corporates with commercial ties in Pakistan, Pakistani expatriates (non-resident), other Pakistani banks who do not have overseas branch presence, and government of Pakistan entities. The Bahrain office will be will be the first branch of the bank outside Pakistan.

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