The Central Bank of Kenya has allowed Pakistan’s Bank Al-Habib Ltd to open a Representative Office in Kenya that will be engaged primarily in promoting the bank’s products and services.
Representative offices of foreign banks serve as marketing and liaison offices for their foreign parent banks and affiliates but are not allowed to conduct banking business.
“The name to be used by the Kenyan Representative Office is different from that of the parent in order to distinguish it from two Kenyan banks that bear the word “Habib” in their names. These are Habib AG Zurich and Habib Bank Ltd which was acquired by Diamond Trust Bank Ltd in 2017.” CBK said in a statement.
BAHLP is a commercial bank headquartered in Pakistan which offers retail and corporate banking, as well as international trade finance services. In addition to its operations in Pakistan, BAHLP also has a presence in Bahrain, the Seychelles, China, Turkey and the United Arab Emirates.
The Representative Office in Kenya is BAHLP’s first entry to Africa.
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