KARACHI: Meezan Bank, Pakistan’s leading Islamic bank, and Bank CenterCredit (BCC), one of Kazakhstan’s prominent financial institutions, have signed a memorandum of understanding (MoU) to strengthen correspondent banking relations and support the growing volume of bilateral trade between the two countries, a statement said on Monday.
The MoU outlines a framework for collaboration in areas including trade finance, cross-border payments, and facilitation of financial services for corporate and commercial clients operating between the two markets. Through this collaboration, both banks aim to improve access to banking channels, support exporters and importers, and explore new opportunities to foster economic cooperation.
The agreement reflects the commitment of Meezan Bank and Bank CenterCredit to deepen regional financial integration and contribute to increased trade and investment flows between Pakistan and Kazakhstan.
“This MoU represents an important milestone in strengthening financial ties between Kazakhstan and Pakistan. Enhanced correspondent banking cooperation will play a vital role in supporting bilateral trade and fostering closer economic relations,” said Group Head, Transaction and International Banking of Meezan Bank Muhammad Abdullah Ahmed.
Ruslan Vladimirov, president of Bank CenterCredit, stated, “We are pleased to partner with our Pakistani counterparts to expand correspondent banking services and explore new opportunities for collaboration. This partnership will help create more efficient and secure banking channels for businesses and financial institutions in both countries.”
