Ambassador Al-Malki discusses Saudi-Pak relations with Punjab leaders 

Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki discusses Pak-Saudi ties in a meeting with Chief Minister Usman Buzdar in Lahore on August 14, 2020. (Photo courtesy DGPR Punjab) 
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Updated 15 August 2020
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Ambassador Al-Malki discusses Saudi-Pak relations with Punjab leaders 

  • The Saudi envoy said the kingdom had never abandoned Pakistan and would continue to support it in the future
  • Punjab Governor Chaudhry Sarwar applauded Saudi government’s cooperation in Pakistan’s development, calling it 'commendable'

ISLAMABAD: Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki said on Saturday that the kingdom had always stood by the South Asian nation and would never abandon it during its time of need. 

“We have not left Pakistan before and we will never leave it in difficult circumstances in the future as well,” he said during a meeting with Governor Punjab Chaudhry Muhammad Sarwar in Lahore. 

The visit of the Saudi envoy to Pakistan’s most densely populated Punjab province coincided with the South Asian nation’s 74th Independence Day during which he held separate meetings with several high-profile individuals in Lahore. 

Apart from the province’s governor, these people included Chief Minister Usman Buzdar, Punjab Assembly Speaker Pervaiz Elahi and leaders of various religious parties. 




Saudi Ambassador to Pakistan Nawaf bin Saeed Al-Malki meets Punjab Governor Chaudhry Muhammad Sarwar in Lahore on August 15, 2020. (Photo courtesy DGPR Punjab)

During these meetings, the participants discussed matters of mutual interests including different ways of promoting bilateral relations and cooperation between the two countries. 

Al-Malki congratulated the provincial leadership on the occasion of Pakistan’s independence anniversary and expressed well wishes for the Pakistani nation. 

“Pakistan and Saudi Arabia are like two brothers,” a statement released by the governor’s office quoted Al-Malki. “We consider Pakistan our home and will continue to play our role for its development.” 

The Saudi envoy said that Umrah pilgrims would soon be allowed to visit Saudi Arabia with all the necessary precautionary measures to prevent the spread of COVID-19. He also reminded his interlocutors that the kingdom had successfully managed Hajj this year by prudently limiting the number of pilgrims and implementing stringent precautionary measures. 

Governor Sarwar said the ideal relations between the two countries were a source of pride for 220 million Pakistanis.

“Islamabad gives importance to its ties with Riyadh,” he added. “The cooperation of the Saudi government in the development of Pakistan is commendable.”

A handout issued on Friday after the meeting between the ambassador and Punjab chief minister said that the two discussed Pak-Saudi relations and investment opportunities in Punjab.

Buzdar said his administration wanted to “develop a new Lahore to keep the environment of the city clean,” adding that the Punjab government would provide maximum facilities to investors from Saudi Arabia under its one window operation.

He continued that special economic zones (SEZs) were being established in the province and development work on Bahawalpur’s SEZ would soon begin.

The chief minister informed the economic zones would offer special incentives to foreign investors.

In another meeting, the Saudi ambassador also called on Punjab Assembly Speaker Chaudhry Pervaiz Elahi and Pakistan Muslim League-Quaid leader Chaudhry Shujaat Hussain.

Elahi told the Saudi envoy that the bilateral ties between the two countries had been further strengthened under the country’s new political administration, while Hussain said that they both enjoyed brotherly relations and no power could undo their strong bond.


Pakistan grants commercial license to Kuwait-backed Shariah-compliant digital bank

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Pakistan grants commercial license to Kuwait-backed Shariah-compliant digital bank

  • Pakistan has announced that Raqqami Islamic Digital Bank aims to launch operations this month with $100 million investment
  • Prime Minister Shehbaz Sharif calls for Kuwait and Pakistan to translate cordial political relations into strong economic ties

ISLAMABAD: Prime Minister Shehbaz Sharif granted the Kuwait Investment Authority-backed Raqqami Islamic Digital Bank (RIDB) the commercial license to operate in Pakistan on Tuesday, stressing the need to convert cordial political ties between the two countries into a strong economic relationship. 

Pakistan’s finance adviser Khurram Schehzad announced last month that RIDB intends to launch operations in the South Asian country from February with a $100 million investment. 

The RIDB describes itself as Pakistan’s first fully Shariah-compliant digital bank. The retail bank offers online financing, savings and payment services to individuals and small and medium-sized enterprises, also focusing on financial inclusion for underserved segments.

Prime Minister Sharif participated in a ceremony to grant the license to RIDB in Islamabad. The event was attended by top RIDB officials including its Chairman Abdullah Al-Mutairi and Chief Executive Officer Umair Aijaz. 

“This would go a long way in further strengthening our brotherly and our bilateral economic relations,” Sharif told participants. “You said very aptly that economic and brotherly relations go hand in hand. It cannot be that your political relations flourish but economic relations remain stagnant.”

He said the Shariah-compliant digital bank will also have features that will support and augment banking in Pakistan. 

Sharif called on both nations to join hands to promote their bilateral economic, investment and trade relations “like never before.” He vowed that Pakistan’s government was committed to enhancing bilateral trade and economic ties by working closely with the Kuwaiti government.

Pakistan’s banking sector is dominated by a handful of large lenders with strong capital buffers and profits driven largely by holdings of government securities.

Pakistan has intensified its efforts in recent years to secure foreign investment, particularly from Gulf nations, as it seeks to ensure sustained economic progress. Schehzad has said that the RIDB’s entry into Pakistan reflects strengthening investment ties between Islamabad and Kuwait, particularly in the financial and digital economy sectors.