KARACHI - National Bank of Pakistan (NBP) has signed a memorandum of understanding (MoU) with a Chinese company China UnionPay International (UPI) here on Wednesday to explore innovative and profitable alternate delivery products for NBP’s valued customers.
UPI is a bankcard association established under the approval of the State Council and the People’s Bank of China.  NBP’s President Syed Iqbal Ashraf witnessed the MoU signing by UPI’s Chief Representative for Africa and Middle East, Li Zhixian and NBP’s Group Chief Mudassir H. Khan at NBP Head Office. NBP President, Syed Iqbal Ashraf expressed his pleasure over signing of MoU with UPI.
He spoke of the operations and the future products of NBP which is the largest bank with main task of collection agent for the Government. The bank has 7.5 million customers. He said we wanted to further strengthen relationship with China in financial sector. He sought support from UPI in spreading NBP’s customer services net. Li Zhixian said UPI operating in more than 140 countries give great value to National Bank of Pakistan. NBP’s Mudassir H. Khan, on the occasion, told the media that Pakistanis holding the NBP international cards, like visa cards, can draw amounts even from ATMs in Pakistan and also abroad with some specific destinations. The unique feature of these cards will be the very low operational cost and high acceptability.
UPI representatives for Pakistan, Asad Burney and Nadeem Haroon, NBP’s Senior Executive Vice President (SEVP) Khalid Bin Shaheen and other senior NBP officers were also present on the occasion.