RIYADH: The National Bank of Pakistan (NBP) was granted a license to expand its operations in Saudi Arabia by the Saudi Arabian Monetary Agency (SAMA). A branch of NBP was inaugurated in Riyadh by Saudi Arabian Monetary Agency Governor) Dr Mohammad Al Jasir recently. He said that Pakistani experts had played a fundamental role in the formation and organization of SAMA. "It is because of the rules and regulations they framed with their immense hard work that the burgeoning economy and financial institutions of Saudi Arabia are on an even keel." He recalled that Pakistani expert on financial matters late Anwar Ali shaped the organizational structure of SAMA. NBP plans to reach out to its clientele by opening multiple branches and expanding its ATM operations, Internet banking services, and payment systems. NBP has contracted ABANA and Compass Plus to support its expansion through the implementation of alternative delivery channels. ABANA and Compass Plus will provide NBP with an ATM switch, card management system, and Internet banking solutions on a single platform.
