Apr 12 - 18, 2010

Pakistan Telecommunication Company Limited (PTCL), Pakistan's national converged services telecom operator and National Bank of Pakistan (NBP) Pakistan's largest banking institute have joined hands to deploy the largest financial network. This is via NBP's "Online Connectivity Services for network expansion" project.

Under the agreement signed on Saturday, PTCL will provide and end to end solution with enterprise-wide network connectivity architecture, all necessary hardware, software and management of the network, on the basis of managed services.

The establishment of this state-of-the art wide area network will ensure enhanced reach, operational efficiency, customer retention and systematic growth and development of NBP.

The WAN will be used for various banking applications, emails, internet and ATMS across NBP's 1300 branch network and other offices over Pakistan and Azad Jamu Kashmir.

President PTCL, Walid Irshad during the signing ceremony said, "National Bank of Pakistan" is a valuable addition to PTCL portfolio of its customers. This project is another milestone in PTCL's perpetual pursuit for providing its customers with the best solutions based on the latest available technology in the market with unmatched services. It is also an opportunity for PTCL to deliver innovative, secure and reliable solutions for Pakistan's largest banking institute."

Commenting on the occasion NBP President Ali Raza said that this is an unparalleled achievement for Pakistan's banking establishment. The introduction of this level of technology will not only provide immense facilitation to our valued customers but also make NBP a technology leader not only in Pakistan but in the whole region as well, Raza commented.



The total liquid foreign reserves held by the country stood at $ 14,958.0 million on 3rd April, 2010.

The break-up of the foreign reserves position is as under:-

i) Foreign reserves held by the State Bank of Pakistan: $ 11,062.6 million
ii) Net foreign reserves held by banks (other than SBP): $ 3,895.4 million
iii) Total liquid foreign reserves: $ 14,958.0 million