Karachi, November 13, 2012 (PPI-OT): Habib Metropolitan Bank was recently awarded by International Finance Corporation (IFC) – a member of World Bank Group at their 5th Annual Bank Partners Meeting in Dubai, as the “BEST GTFP ISSUING BANK FOR SOUTH-SOUTH TRADE”.
Habib Metro, one of the largest trade finance banks, has the distinction of being the first bank in the world to have undertaken the transaction under the Global Trade Finance Program (GTFP) of IFC and only the second bank of the world to sign the agreement with IFC in 2005.
Mr. Aamir Dar, Head of Financial Institutions at Habib Metropolitan Bank received the award certificate from Ms. Georgina Baker, Director of Global Trade and Supply Chain Solutions at IFC, recently in Dubai.
Nearly 300 bankers representing over 130 financial institutions attended this year’s conference, which highlighted the trends, opportunities, and challenges in the extension of trade finance and working capital in emerging markets.
The Global Trade Finance Program of IFC has 80 member banks from 180 countries around the world. Under the program, IFC offers confirming banks partial or full guarantees covering payment risk on banks in the emerging markets for trade related transactions.
For more information, contact:
Habib Metropolitan Bank Ltd.
I.I Chundrigar Road
Fax :( 92-21) 2630404