China Mobile: Plans To Get A Bank In Pakistan

To capture the long term financing potential in the Pakistani market, Chine Mobile is looking into the option of purchasing a bank in Pakistan.

A delegation headed by the Chairman of China Mobile Communication Corporation Mr. Wang Jianzhou is visiting Pakistan for this purpose. The delegation has met many important personals including Sardar Latif Khosa, Advisor to PM for IT & Telecom, Governor State Bank of Pakistan and Chairman PTA.

In the past seriousness has been shown by the China Mobile regarding Mobile Banking. On the other hand, one can say that this the starting point for the execution of China Mobiles plan for jumping into financial services.

We know that Orascom has been putting efforts to get a bank in Pakistan, for almost similar reasons; however, it has taken longer than enough time to close any deal.

We know that for almost same reasons the Orascom has been putting efforts to get a bank in Pakistan as well, though it has taken a very long time to close any deal.

Recently it merits shows that China Mobile has invested $5.8 billion in Shanghai bank. China Mobile will be able to offer mobile e-commerce and mobile finance businesses encircling mobile bank cards, phone payments, and mobile funds transfers.

Via: ProPakistani.pk

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