PAKISTAN: National Export Import Bank Starts Operations

The Export Import Bank of Pakistan (EXIM Bank of Pakistan) has commenced operations after senate approval on 30 September 2022 of the Export-Import Bank Bill, 2022, signed into law on 14 October 2022. The bank will support foreign direct investment growth in trade-related sectors by providing greater access to trade financing. It will be able to obtain reinsurances from any foreign agencies or any insurance companies operating in or outside Pakistan, as well as providing its own. It is also permitted to work with other financial institutions or insurance providers in or outside the country to provide trade financing, trade credit insurance, equity participation, guarantees and other related services. 

The EXIM Bank will serve as the government’s key policy instrument to increase exports and to become a competitive player in trade and investment in the global market. The bank will continue to receive technical support from the Asian Development Bank and the Islamic Development Bank.