KASB attracts first ever Chinese private sector investment

Karachi: Asia International Finance Company Limited (AFIC), a leading Chinese business group has invested $40 million in KASB Finance Limited. AFIC is part of a business conglomerate, which holds significant interests in industrial concerns, minerals activities and financial services corporations amongst others in China and Asia. The investment represents the first entry by a private sector Chinese firm in the finance industry in Pakistan.

Munir Saleem, acting President KASB Bank said, “This investment will prove to be a landmark deal in reinforcing Sino-Pak relations in the investment and finance sector and will further expand KASB Group’s outreach in international financial and business markets.” This investment by AFIC is part of the Company’s long term commitment to investing in Pakistan and a first step in an envisaged long term strategic relationship with the KASB Group, where the partners anticipate that Group companies will become significant financial players in Pakistan’s ever increasing trade with China and Asia and the expected influx of further investments from China.

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