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Pakistan’s Biggest Lender Habib Bank To End Operations in Afghanistan Soon

30 Mar 2019 Wadsam Afghanistan Business News

Pakistan’s

largest bank by asset and the country’s biggest lender, the Habib Bank Limited

(HBL) has announced its exit from Afghanistan by third quarter 2019.

“HBL’s exit

from Afghanistan is expected to be completed latest by third quarter 2019 and

will be done as per the regulatory requirements of Afghanistan and in

consultation with the central bank of Afghanistan (Da Afghanistan Bank),” the

bank’s spokesman said. “HBL’s international footprint is important for the bank

to service its domestic and international clients even better and this role

will only strengthen in 2019.”

According to

a public notice, the bank stopped accepting deposits effective March 11, 2019. “All

depositors are requested to withdraw/transfer their funds and close their

accounts with Habib Bank Afghanistan on or before June 10, 2019,” the notice

says.

HBL began

its operations in Kabul, where the bank’s only branch exists, in April 2004.

The bank has branches in Bahrain, Bangladesh, Belgium, China, Lebanon,

Maldives, Mauritius, Oman, Singapore, Sri Lanka, Turkey, UAE and USA. It’s

operating with a representative office in Beijing. HBL has around 1,800

domestic and international branches.

The post Pakistan’s Biggest Lender Habib Bank To End Operations in Afghanistan Soon appeared first on Wadsam.

Original Link: https://wadsam.com/afghan-business-news/pakistans-biggest-lender-habib-bank-to-end-operations-in-afghanistan-soon/

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