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Habib Bank, Ufone sign yuan swap pact
KARACHI: Ufone and Habib Bank signed an agreement on Friday through which the latter has extended bilateral trade finance in Chinese yuan (RMB/CNY) for the import of cellular network equipment through Huawei Technologies Ltd.
The agreement is one of the largest RMB/CNY contracts in Pakistan and is expected to ease pressure of import in terms of dollars.
Published in Dawn, October 12th, 2019
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