The iconic National Stadium in Karachi has been renamed after the Pakistan Cricket Board and the National Bank of Pakistan have signed a five-year Memorandum of Understanding (MoU) for the naming rights.

The venue will now be known as the National Bank Cricket Arena. Both parties will also collaborate and partner on sponsoring initiatives to promote and develop grassroots cricket across the country, including supporting the PCB initiatives of scouting local talent in the rural areas of Pakistan.

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Since Ramiz Raja's appointment as chairman, PCB has been making efforts to strengthen the country's cricket financially and other iconic Test venues will also be renamed in the process.

Former cricketer has welcomed NBP and thanked them for partnering with the PCB. "This is a great news as this reflects that prestigious organisations are willing to be associated with the Pakistan cricket brand as they see a lot of value in it for themselves."

As per the MoU, the National Bank of Pakistan will be allowed to use the venue nomenclature and signage outside the playing area.