PESHAWAR: The Bank of Khyber (BOK) opened Rast Islamic Branch at Ghari Qamardin, Ring Road, here on Thursday.
Khyber Pakhtunkhwa Minister for Finance, Muzaffar Said advocate was chief guest on the occasion, who inaugurated the branch. Besides, Secretary Finance, Khyber Pakhtunkhwa, Syed Said Badshah Bokhari, Managing Director, BOK, Shams-ul-Qayyum, JI activists, Hakeem Abdul Waheed and Sabir Hussain Awan also attended the ceremony.
Addressing the inaugural ceremony, the Khyber Pakhtunkhwa Minister for Finance, Muzaffar Said advocate said that strong economy is the engine of development, saying that they wanted the development of the economy of the province on the principles of Islam.
He said that as compare to conventional banking, Islamic banking is more profitable and said that the bank will earn profit for the province. He said that Islamic system is interest of the poor as it guarantees rights to all.
The provincial minister said that for cutting the roots of corruption, the provincial government is bringing people-friendly reforms. He said that for the redressal of the complaints of the people, an online complaint redressal system has also been established in the finance department. They are making efforts for provision of justice to all, he added.
Addressing the ceremony the Secretary Finance, Syed Said Badshah Bokhari said that the promotion of Islamic banking is the priority of the Bank of Khyber. He said that the newly established branch will not only help in promotion of business activities but will also provide services in education and social sector.
He said that the provincial government is launching an Islamic microfinance scheme through BOK from next month, which will not only benefit the big investors, but also the common men at their door steps.
Earlier, in his welcome address, the Managing Director, BOK, Shams-ul-Qayyum highlighted the brief history of the establishment and growth of the bank. He said that presently the bank has 116 branches out of which 54 are Rast Islamic while the counters of the Islamic branches is also established in more than 40 branches.
He said that during the current year, BOK will open 14 branches and 11 of them will be Islamic. He said that efforts were continue for turning the bank into a complete Islamic bank in the coming four to five years.
The MD BOK also commended the role of the people in the encouragement and development of the bank, saying the time is not far away when the bank will have branches in all cities and towns of the province.
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