PESHAWAR: Khyber Pakhtunkhwa Minister for Finance Muzaffar Said has inaugurated Islamic banking branch of the Bank of Khyber (BoK) at Garhi Qamardin, Kohat Road.
Addressing the inaugural ceremony, the minister termed the stable economy backbone of a developed country and said that the provincial government is focusing on the improvement of the economy, promotion of Islamic banking, elimination of corruption and other reforms to establish a just system in the province.
Ex MNA Sabir Hussain Awan, Jamaat-e-Islami provincial Naib Amir Hakeem Abdul Waheed, Secretary Finance Syed Badsha Bokhari and BoK MD Shamsul Qayum were also present.
Muzaffar said that Islamic banking was safe, profitable and that is why the provincial government was striving to promote Islamic banking to bring prosperity in the province. He said that provision of justice, employment opportunities and ensuring peace were among the foremost responsibilities of the government.
BoK MD Shamsul Qayum said that out of 116 branches of the bank .54 branches were running on Islamic principles of banking while in 40 branches Islamic counters were established. He disclosed that the 11 more Islamic branches would be established this year while the bank would be converted into a full-fledged Islamic bank in the next five years.
