Pak Oman In­vest­ment Com­pany: A bridge of pros­per­ity

Muscat Daily - - 70TH INDEPENDENCE DAY OF PAKISTAN -

Pak Oman In­vest­ment Com­pany (POIC -es­tab­lished 2001), a tan­gi­ble out­come of His Majesty’s Sul­tan Qa­boos bin Said’s visit to Pak­istan in 2001, is a flag­ship joint ven­ture (JV) fi­nan­cial in­sti­tu­tion and one of seven such JVs with other strate­gic part­ners in­clud­ing China,

Saudi Ara­bia and Iran, with man­date to fi­nance de­vel­op­ment projects as well as pro­mote bi­lat­eral trade and in­vest­ment.

H E Yahya Said al Jabri is Chair­man, Board of Di­rec­tors, POIC whereas Ba­haud­din Khan, a rep­utable banker from Pak­istan is the cur­rent CEO.

Ini­ti­ated with US$100mn, POIC has con­sis­tently per­formed well while record­ing best gains in 2016, the year of eco­nomic turn­around in Pak­istan un­der the lead­er­ship of Prime Min­is­ter Nawaz Sharif.

With US$600mn in as­sets, POC is one of best per­form­ing JV, at­tract­ing FDI of over US$400mn from Oman in fi­nan­cial ser­vices, en­ergy and tele­com sec­tors.

Pak Oman is head­quar­tered in Karachi with of­fices in Lahore, Is­lam­abad, Gwadar and Mus­cat. It is the only JV fi­nan­cial in­sti­tu­tion of the Gov­ern­ment of Pak­istan which has been main­tain­ing an of­fice in the part­ner coun­try. The of­fice in Mus­cat has been func­tion­ing since 2005.

POIC co-owns a Mi­cro­fi­nance Bank and As­set Man­age­ment Com­pany, the for­mer set up by the Min­istry of Fi­nance of Oman in part­ner­ship with POIC aligned with His Majesty the Sul­tan’s vi­sion to part­ner in eco­nomic de­vel­op­ment in Pak­istan.

Re­cently, busi­ness group from South East Asia has en­tered into strate­gic part­ner­ship with Pak Oman Mi­cro­fi­nance Bank whereas As­set Man­age­ment Com­pany re­cently ac­quired Askari As­set Man­age­ment Com­pany.

POIC’s busi­ness lines in­clude Cor­po­rate Lend­ing, Trea­sury Op­er­a­tions and In­vest­ment Bank­ing. None­the­less, it has pro­vided fi­nanc­ing power, tex­tiles, oil&gas, phar­ma­ceu­ti­cals, health­care, au­to­mo­biles, con­struc­tion and hous­ing, en­gi­neer­ing, chem­i­cals & fer­tilis­ers, sugar, fi­nan­cial ser­vices and telecom­mu­ni­ca­tions etc.

POIC has a strong fo­cus on in­fra­struc­ture de­vel­op­ment and SME fi­nanc­ing and bi­lat­eral trade with aims to cap­i­talise upon its strong track record and grow its busi­ness foot print in in­fra­struc­ture and SME fi­nanc­ing.

It has re­cently signed an im­por­tant MoU with Oman Tech­nol­ogy Fund (OTF) which sub­stan­ti­ates its strate­gic di­ver­sity.

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