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- Saturday, September 01, 2012 - From Print Edition


MINGORA: The Bank of Khyber (BoK) opened Raast Islamic Banking Branch at the Bank Square here on Friday after Islamic banking showed considerable growth in profit.Minister for Finance Muhammad Humayun Khan inaugurated the branch.


Bilal Mustafa, Managing Director BoK, Mir Javed Hashmat, Executive Director BoK, government officials and group and divisional heads of the bank and members of local business community were present on the occasion.


Speaking on the occasion, Muhammad Humayun Khan appreciated the vital role of BoK in the socio-economic uplift of the province by implementing the self-employments schemes of the provincial government for reducing unemployment.


He appreciated the bank management for more than 100 percent growth by a number of branches and in all operational area despite unfavourable circumstances on the regional and international economic fronts.


Bilal Mustafa said the bank was committed to meet the requirements of Islamic Banking in order to encourage development activities. He said Raast Islamic Banking had trader friendly network in all major cities, adding that more branches would be opened by the end of the year.He said the BoK Raast Islamic Banking was being supervised by Shariah Compliant Committee.