Pak Oman Investment Company: A bridge of prosperity
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.