Waqar Abbas Mondoq, Chairman of the Credit, Risk, and Enforcement Board, has formally approved three major bank policies as part of the bank’s move to modernize. According to the chairman, Gilgit Baltistan has enormous potential in sectors such as tourism, agriculture-based startups, and service industry.
The bank will begin providing patient capital and venture funding in order to strengthen Gilgit Baltistan’s entrepreneurial ecosystem. Karakorum Cooperative Bank is the largest GB-owned bank in Gilgit Baltistan, with branches in virtually every district.
The bank adopted the first structured policies and processes in its history under the new chairman to ensure the bank’s quality reforms.