PESHAWAR: KP Chief Minister Ali Amin Khan Gandapur launched Islamic banking at the Bank of Khyber to fully convert the bank into an Islamic banking by December 2026.
In this regard, a ceremony was held on Wednesday at the Bank of Khyber Headquarters in Peshawar, where Chief Minister Ali Amin Khan Gandapur attended as the chief guest.
Advisor to Chief Minister for Finance Muzammil Aslam, Additional Chief Secretary for Planning and Development, Ikramullah Khan, Secretary Finance, Aamir Sultan Tareen, and others were also present at the event.
During the ceremony, a new service called “KorPay” was also launched to facilitate overseas Pakistanis in sending remittances through the Bank of Khyber. Additionally, TV commercials were introduced for branding the bank’s services.
Addressing the event, the Chief Minister congratulated the BoK’s administration on the launch of Islamic banking and stated, “I am extremely pleased that the Bank of Khyber is transitioning towards Islamic banking. This bank is an important institution of the province, gaining recognition and making progress.” He further added that the introduction of new initiatives at the bank would provide improved services to the public.
The Chief Minister emphasized that, in line with the vision of the founding chairman, the province is moving towards financial independence. He stated that strengthening institutions and increasing revenue is a priority for the government.
He urged overseas Pakistanis to send money to their families through the Bank of Khyber, highlighting the launch of the “KorPay” service, which aims to provide maximum convenience to expatriates.
The Chief Minister also mentioned that the provincial government, in collaboration with the Bank of Khyber, is running multiple initiatives, including the Solar Scheme, Ehsaas Rozgar Program, and Ehsaas Nojawan Program, among others.
He directed the bank’s management to provide maximum support to industrialists setting up businesses in the province.
The provincial government will offer incentives to promote investment, encouraging more investors to contribute to the region’s economic growth, he added.
Copyright Business Recorder, 2025