Here's what's convinced brokerage firm CLSA to return to Pak after 17 yrs

CLSA exited Pakistan in 2001 due to "considerable instability" at the time -- despite the operation being profitable

CLSA Ltd. is returning to Pakistan after almost two decades, as the company controlled by China's biggest brokerage steps up its expansion into markets that are part of the government's Belt And Road Initiative.

Hong Kong-based CLSA agreed to buy a 24.9 per cent stake in the securities unit of Bank Alfalah, which is backed by the World Bank's International Finance Corp., according to a statement on Thursday. The joint venture will be chaired by Aliuddin Ansari, who was the chief executive officer at one of Pakistan's largest conglomerates and previously CEO for the local unit of Credit Lyonnais Securities