EXIM Bank of Pakistan
TypeState ownership
IndustryBanking
Founded2015 (2015)[1]
HeadquartersIslamabad, Pakistan
Key people
Irfan Bukhari, (President & CEO)[2]
ProductsFinancial services

EXIM Bank of Pakistan or Export Import Bank of Pakistan is a Development Finance Institution owned by the Government of Pakistan to stimulate the growth and diversification of the country's exports and assist in the implementation of import substitution plans.[3][4][5][6]

Senate session on Friday, 30th September 2022, approved the bill to establish the Export Import Bank of Pakistan for the promotion of international trade. The motion to pass the bill titled “the Export Import Bank of Pakistan Bill 2022” was moved by Dr. Aisha Ghous, Minister of State for Finance and Revenue. The bill for EXIM Bank was earlier passed by National Assembly on June 9, 2022. The Government of Pakistan made a policy decision to set up an EXIM Bank for Pakistan, with a mandate to provide innovative products to support the growth of exports and export led foreign direct investment by mitigating related risks. There are over 60 such agencies in the world, providing similar products to their industry, and this is the first time, the Government of Pakistan is introducing such products in Pakistan, providing an enabling environment and level-playing field to Pakistan based exporters. The enactment of EXIM bank will help improve balance of payment position which is one of the main targets of finance team under Finance Minister Senator Ishaq Dar. The Asian Development Bank and the Islamic Development Bank continue to provide technical support to the EXIM Bank.

EXIM Bank headquarter

EXIM Bank headquarters is in Islamabad. It’s business model is based on partnerships with commercial banks/ international banks and multilateral development agencies as well as Export Credit Agencies around the world.[7]

See also

References

  1. ↑ "Exim Bank of Pakistan | Who we Are". 12 January 2017.
  2. ↑ "Exim Bank of Pakistan | Board of Directors". 11 January 2017.
  3. ↑ Vacancy announcement finance.gov.pk
  4. ↑ Ilyas, Muhammad (3 October 2019). "Pakistan's first export, import bank may start operations in 2020". The Express Tribune. Retrieved 11 July 2022.
  5. ↑ Ahmed, Ali (14 October 2020). "Govt approves Export-Import Bank of Pakistan Bill". Brecorder. Retrieved 11 July 2022.
  6. ↑ Exim Bank of Pakistan gov.pk
  7. ↑ "Dawn-ePaper | Oct 02, 2022 | Page Business".


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