NBP Aitemaad Islamic Banking opened in Mohmand Agency

PESHAWAR: President and CEO National Bank of Pakistan, Saeed Ahmad Saturday inaugurated National Bank of Pakistan’s (NBP) Aitemaad Islamic banking branch in Ghalanai, Mohmand Agency.

With this move, the bank aims to provide financing facilities to the community based on Islamic modes to strengthen the financial stability in the violence affected region and this is the first time ever that this area has been visited by a president of any bank, said Saeed Ahmad while addressing the gathering soon after formally opening the Islamic banking.

“Due to die-hard efforts of the law enforcers, political leaders and tribal chiefs, peace has finally returned to Mohmand Agency. NBP has opened Aitemaad Islamic banking branch in the area to instigate economic activity in this part of the region."

He said the bank woudl approve financing facilities to traders and locals based on Islamic mode which will aid in meeting their financial needs.

He expressed gratitude for the political agent and the locals for their reception and said that the bank would be looking forward to facilitate local unemployed educated youth and government workers, he added.

“We are putting our share in the upbringing of Mohmand Agency. We are confident that NBP will quickly begin to facilitate and support the community and its financial equilibrium after years of unrest due to terrorism in this region,” said Mehmood Aslam, Political Agent while appreciating the initiative taken by the bank.

Furthermore, the bank aims to offer financing facilities for the purchase of modern machinery for efficient extraction of marble from the hillside, based on Islamic modes.

Aitemaad Islamic banking plans to sanction similar financing facilities to the educated unemployed citizens through Prime Minister Youth Business Loan Program, enabling them to contribute in the financial health of Mohmand Agency.

Aitemaad Islamic banking of NBP strives to support the populace and areas which have been massively destroyed by terrorist activities in the past. For this purpose, CEO and President NBP also announced 10 Qingqi rickshaws which will provide free transport to the students of affected area in a bid to promote education.

Ms. Saima Rahim, Regional Head KP, NBP Islamic Banking along with other senior officials from NBP and local area were also present during the inauguration. Following the tribal customs, Saeed Ahmad was also honored with a traditional turban (Qullah).

Aitemaad Islamic Bank has a wide range of Shariah Compliant Products and Services which can be availed from dedicated Islamic banking branches all over Pakistan. Each branch covers all aspects of Islamic financial transaction, meeting the customer’s financial needs free of RIBA.