Allied Bank Becomes the First to Join IFC
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The Arab Bank
Allied Bank Limited (ABL) has become the first bank worldwide in joining the International Finance Corporation (IFC) – of the World Bank Group – that covers the trade of equipment used in sustainable development. IFC announced the news of ABL’s partnership in environmental-friendly/energy-efficient trade through a press release issued on Wednesday, March 11, 2009.
By becoming IFC’s partner, the Allied Bank will receive special guarantees from IFC for covering payment risks associated with trade transactions, facilitating global trade volumes of the country. The sustainability finance facility of IFC also serves as a great incentive for promoting trade that satisfies the sustainability standards of the corporation. By the partnership, ABL will also capture more growth opportunities in future.
The growth policy of Allied Bank extends beyond IFC’s sustainability finance facility. Just last year, the ABL became a partner with First Data for hosting consumer banking portfolio on its VisionPLUS® processing platform. Since it birth in 1942, the ABL has become one of the largest banks of Pakistan, leading the hip tradition of online banking through more than 750 real-time online branches across the country.
