KARACHI: The State Bank of Pakistan (SBP) signed a
memorandum of understanding (MoU) with its Nepalese counterpart, Nepal Rastra
Bank, to cooperate in the field of supervision and exchange of supervisory
information.
The
agreement was signed in a ceremony here on Thursday.
Habib
Bank has an affiliate in Nepal, Himalayan Bank, with a 20 per cent
shareholding. The MoU will enhance bilateral relationship and sharing of
information to accomplish convergence towards common modalities and standards
in cross-border supervision of banks operating in both countries.
Nepal
is the third country in the Saarc region with which Pakistan has established a
central banking MoU. The other two countries are Bangladesh and Sri Lanka.
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