Faisalabad: Mr. Shahbaz Hussain Syed, President and CEO of Pak EXIM, inaugurated the bank’s new office at the Faisalabad Chamber of Commerce & Industry (FCCI). The event was attended by a high-level delegation from the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) and other key representatives from the export sector.

According to Press Information Department, the inauguration signifies a strategic move by Pak EXIM to strengthen its operations in Pakistan’s key export regions. By establishing its presence in Faisalabad, a major industrial and textile hub, Pak EXIM aims to support local businesses with export credit insurance and other financial services to mitigate risks associated with export activities.

During the event, Mr. Shahbaz Hussain Syed emphasized Pak EXIM’s role in enhancing Pakistan’s export capabilities through its current insurance offerings and plans to expand its services to include advisory services, guarantees, bonds, and financing. This expansion is intended to aid Pakistani businesses in accessing and competing in international markets.

Dr. Khalid Khalafalla, CEO of ICIEC, expressed support for the new office, highlighting the importance of risk-mitigation solutions for Pakistani exporters. Mr. Farooq Yousaf Sheikh, President of FCCI, praised the swift establishment of the office, acknowledging the collaborative efforts with ICIEC and emphasizing the significance of Faisalabad as a pivotal contributor to the country’s exports.

The new initiative demonstrates Pak EXIM’s dedication to fostering an export-driven economy across Pakistan.