20000402

DBL to expand

its operation

in Pakistan

KARACHI: Doha Bank Limited (DBL) will expand its operation in Pakistan and allocate sufficient funds to finance small and medium size enterprises.

This was stated by the DBL Chief Manager Ahmed Hussain Khan at a press conference here on Saturday.

He said the expansion programme has been initiated after the visit of DBL chairman Sheikh Fahad Bin Mohammad Bin Jabbar Al Thani to Pakistan last August when he said boosting of Pakistan's economy was the top priority of his bank.

Khan said that the Bank would also give priority to the human resource development in Pakistan in banking sector.

He said the Doha Bank would introduce paperless banking in Pakistan which is now being practised in most of the developed countries.

He said the first branch of the DBL was established in Pakistan in July 1978 at Karachi while second at Lahore in 1991 adding that the total strength of two branches are about 60 persons.

He said the prime focus of the bank was on facilitating Pakistan's foreign trade adding that during 1999 the total financing to this sector was Rs 2.406 billion.

Khan said that during 1998 the total funding to foreign trade sector was Rs 2.608 billion.

The paid-up capital of the DBL Pakistan operation was valued at Rs 625.887 million during 1998 which rose to Rs 744.166 million in 1999.

The DBL chief manager said bank's deposits also grew from Rs 1.897 billion in 1998 to Rs 2.338 in 1999.

Replying to a question Khan said the reason behind the losses during 1999 is the provisions for bad-debt under the Prudential Regulations by the State Bank of Pakistan (SBP).

Khan said that in Doha Qatar, the bank has nine branches and two pay offices with a paid-up capital of 4.545 billion Qatari Riyals, while one branch in New York.ÑAPP