INTERVIEW-UAE's EIG plans bank and farm expansion in Pakistan

* EIG plans to double Pakistan network by yr-end

* Sees 100 branches in 45 cities

* Says committed to Pakistan despite security risks

KARACHI, April 29 - Sharjah-based investment firm Emirates Investment Group plans to more than double its retail network in Pakistan by the end of the year, despite growing insecurity and surging violence, a senior official said on Wednesday.

The private sector EIG, which partly owns the Emirates Global Islamic Bank in Pakistan, said it plans on having 100 branches in 45 cities, from a 42 branches in 25 cities currently.

"We are looking at over 100 branches by the end of 2009, it may overlap into 2010, but it'll be the first quarter of 2010," Roger Dawood Bayat, EIG's country representative in Pakistan, told Reuters in a telephone interview.

Bayat said EIG would remain committed to Pakistan despite the security risks and worsening law and order situation.

"We took a 10-year view rather than just a short-term view," said Bayat.

"We look at where there is high risk, there's high reward and we see that maybe we can take advantage of the situation where others are shying away or leaving, we're saying let's keep our commitment and let's keep going forward."

Violence has surged in Pakistan, especially in the northwest, where the spread of Taliban influence has once again heightened concerns over security.

"From 2004 to 2007, it was great for us, so why abandon right now in times of difficulty?" said Bayat, referring to the security situation of Pakistan.

EIG said on Tuesday it is also in the process of acquiring farmland in Pakistan to export more food to the Gulf region and is seeking international partners. [ID:nLS821334]

Bayat said EIG was also serious on embarking upon corporate farming to produce and export fruit and vegetables, and was looking to buy farmland in all of Pakistan's provinces, starting with Punjab.

EIG is eyeing un-utilised land held by the government.

"The UAE plus the GCC is looking towards Pakistan at least and surrounding countries for a secured food source for its growing population," Bayat said, referring to members of the Gulf Cooperation Council.