4285Pakistan Current AffairsMedium
State Bank recently grants banking licence to which Chinese Bank ? (As reported on 31 July 2017)
AHua Xia Bank
BBank of China
CChina Everbright Bank
DHua Xia Bank
Correct answer
B. Bank of China
Explanation
Sate Bank of Pakistan (SBP) has issued a banking licence to the Bank of China. The bank will commence its business in branch mode after meeting other regulatory requirements. The bank will initially bring $50 million to fulfil the minimum capital requirements of the SBP.