PAKISTAN - The Pakistani prime minister Shaukat Aziz has come out in support of Credit Suisse, which announced plans to launch operations in the country.
Credit Suisse said it planned to open an office in Karachi, to focus on its equity research coverage of Pakistani companies and provide global investors with access to the Pakistan market.
Prime minister Shaukat Aziz, said: "'Credit Suisse is a world-class international financial institution. Their decision to establish an onshore footprint in Pakistan reflects great confidence in our continued growth and development."
Credit Suisse has been active in the Pakistani financial markets since the early nineties through its offices in London, Singapore and Hong Kong, and currently covers over 50 Pakistan stocks through its proprietary valuation framework, HOLT.
This announcement has followed expansion by the bank into Indonesia, Malaysia and the Philippines. Credit Suisse expects to launch operations towards the middle of 2007.
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