BoK handles over Rs 7 billion as home remittances

The Bank of Khyber (BoK) handled over Rs 7 billion as home remittances during the last six months, till June 30 2011, which shows confidence of the overseas Pakistanis on the bank, said Managing Director BoK, Bilal Mustafa while inaugurating BoK Half-Yearly Manager's Conference-2011, here on Monday.
The half-yearly managers' conference was held to review the operational activities and achievements of the bank during first six months of 2011 and to finalise the targets and operational strategy for the remaining six months of the year. Mustafa mentioned that in order to achieve desired goals, the BoK would further increase its branch network in 2011 by adding 12 new branches.
The growth in other operational areas would be improved further to achieve the annual business target. In this connection; a branch expansion plan is already underway, during which 5 new Islamic and 7 new conventional branches will be opened by the end of the year. This initiative of the management will further strengthen the bank and with the increased network of branches, the BoK would play its pivotal role in socio-economic development of the country. He mentioned about the 'Bacha Khan Khpal Rozgar Scheme' and forthcoming 'Huner Mand Scheme' and their positive impact on socio-economic condition of Khyber Pukhtunkhwa. He also emphasised that branches as well as head office staff should work sincerely.
Mustafa while reviewing the operational results said that the BoK's operational results show a tremendous growth in all key areas despite depressed economic situation. He said that during first six months of 2011, BoK received over Rs 7 billion as home remittances, which was 87% higher than the corresponding period.
He informed that in addition to branches, a number of dedicated payment centres are being established to facilitate home remittances beneficiaries. He said that they were already having a plan to engage more exchange companies to get more clients in various parts of the province and abroad.
The mid-year managers' conference 2011 was also attended by Mir Javed Hashmat Executive Director BoK, Imran Samad Group Head Credit Management and M. Hamid Ayub Group Head HRD, a part from heads of various divisions of Head Office. The Executive Director BoK stressed upon the managers to work more efficiently and dedicatedly to achieve targets.