The Minister mentioned that the as a result of successful trade diplomacy of the MoC, the minimum asset requirement
for a Pakistani bank was reduced by $5 billion which resulted in a Pakistani bank qualifying for entry into Chinese market.
For the sixth category, the asset requirement
of the contractor is a minimum Dh300,000 and the estimated value of the project the contractor may participate in Dh7 million, or less.
The minimum total asset requirement
for a Hong Kong bank acquiring a shareholding in a mainland bank will be lowered from US$10 billion to US$6 billion, allowing banks with smaller assets to set up business in the mainland.
Investment Restrictions: Admissible asset requirement
(cash and cash equivalent)
The company has failed on two of Nasdaq's criteria, as it no longer meets the $4m net tangible asset requirement
and could not maintain a closing bid price of $1 per share.
He said the asset requirement
for any foreign bank to open its branch was US $20 billion but China gave special concession to Pakistan and the minimum asset requirement
was reduced to $15 billion.
Nasdaq said it doubted the Boca Raton, Florida company's ability to sustain compliance with the Net Tangible Asset requirement