PESHAWAR, Jan 06: The Governor Khyber Pakhtunkhwa Owais Ahmed Ghani Wednesday urged all the commercial banks operating in FATA to extend loaning and financing facility to their FATA clients adding that it was unfair to keep their clients deprived of it despite getting huge deposits from them.
“When they are getting handsome deposits from their clients in FATA, they must provide them with loaning facility as well”, the Governor stressed while addressing the ceremony of opening of first Islamic Banking branch of Bank of Khyber in Jamrud, Khyber Agency.
Attaullah Khan, Additional Chief Secretary and Chairman Board of Directors BoK, Bilal Mustafa Managing Director BoK, Sikandar Qayyum Secretary to Governor and Shakirullah Khattak Political Agent Khyber Agency besides members of BoD attended the ceremony.
The Governor appreciated the Bank of Khyber for its first intervention in FATA by initiating Islamic Banking in tribal areas and congratulated the management of the Bank on this worthy decision.
He said that it was an appreciative step particularly in the current scenario when the govt. was making all out efforts to revive and consolidate the socio-economic conditions in FATA and would certainly supplement the govt. efforts in this regard.
The Governor while comparing the Islamic Banking with the conventional banking system said that Islamic banking was the only alternative to the normal banking.
“As being close to the nature, the Islamic banking system is most relevant to our social and economic requirements and fulfill our needs most perfectly”, the Governor said. He added that the global economic recession and financial crises emerging at the international scene time to time had also compelled the economic and financial gurus to have a serious look at the Islamic banking system and its encouraging financial, Social and economic implications.
The Governor congratulated the Bank of Khyber for taking the initiative of extending the Islamic banking to our tribal areas and said that it was the more suited system for FATA where it has a wide scope and liking in the society generally.
He said that the Islamic banking system could help remove the remove the social and economic inequalities and bring social justice to the society.
Managing Director Bank of Khyber Bilal Mustafa highlighted the performance of BoK in the field of Islamic banking and said that BoK had achieved a unique credit in this regard.
He said that the jamrud branch of BoK would play its vital role in the socio-economic development of the area. He said that more such branches would be opened in FATA.
The MD said that under a recent decision special counters for Islamic banking will be opened in all the branches of BoK. He said that 19 branches and 4 sub branches of BoK Islamic Banking were operating in the whole country besides 50 branches and 4 sub branches of normal banking with more than 2 lacs account holders.
The BoK assets, he added had reached Rs. 51 billion and the bank had provided financial services to of Rs. 20 billion to its more than one lac accounts holders over the period of seven years. He assured that BoK will provide quality services to its clients in FATA as well.
Group Leader Islamic Banking Group Arbab Riaz Ahmad highlighted the Islamic Banking system and said that Islamic Banking in Pakistan was rapidly promoting and the peoples confidence on Islamic Banking was on the rise.
Earlier, the Governor formally inaugurated the Islamic Banking Branch of Bank of Khyber in Jamrud Khyber Agency by clicking the computer button and opening an account.
“When they are getting handsome deposits from their clients in FATA, they must provide them with loaning facility as well”, the Governor stressed while addressing the ceremony of opening of first Islamic Banking branch of Bank of Khyber in Jamrud, Khyber Agency.
Attaullah Khan, Additional Chief Secretary and Chairman Board of Directors BoK, Bilal Mustafa Managing Director BoK, Sikandar Qayyum Secretary to Governor and Shakirullah Khattak Political Agent Khyber Agency besides members of BoD attended the ceremony.
The Governor appreciated the Bank of Khyber for its first intervention in FATA by initiating Islamic Banking in tribal areas and congratulated the management of the Bank on this worthy decision.
He said that it was an appreciative step particularly in the current scenario when the govt. was making all out efforts to revive and consolidate the socio-economic conditions in FATA and would certainly supplement the govt. efforts in this regard.
The Governor while comparing the Islamic Banking with the conventional banking system said that Islamic banking was the only alternative to the normal banking.
“As being close to the nature, the Islamic banking system is most relevant to our social and economic requirements and fulfill our needs most perfectly”, the Governor said. He added that the global economic recession and financial crises emerging at the international scene time to time had also compelled the economic and financial gurus to have a serious look at the Islamic banking system and its encouraging financial, Social and economic implications.
The Governor congratulated the Bank of Khyber for taking the initiative of extending the Islamic banking to our tribal areas and said that it was the more suited system for FATA where it has a wide scope and liking in the society generally.
He said that the Islamic banking system could help remove the remove the social and economic inequalities and bring social justice to the society.
Managing Director Bank of Khyber Bilal Mustafa highlighted the performance of BoK in the field of Islamic banking and said that BoK had achieved a unique credit in this regard.
He said that the jamrud branch of BoK would play its vital role in the socio-economic development of the area. He said that more such branches would be opened in FATA.
The MD said that under a recent decision special counters for Islamic banking will be opened in all the branches of BoK. He said that 19 branches and 4 sub branches of BoK Islamic Banking were operating in the whole country besides 50 branches and 4 sub branches of normal banking with more than 2 lacs account holders.
The BoK assets, he added had reached Rs. 51 billion and the bank had provided financial services to of Rs. 20 billion to its more than one lac accounts holders over the period of seven years. He assured that BoK will provide quality services to its clients in FATA as well.
Group Leader Islamic Banking Group Arbab Riaz Ahmad highlighted the Islamic Banking system and said that Islamic Banking in Pakistan was rapidly promoting and the peoples confidence on Islamic Banking was on the rise.
Earlier, the Governor formally inaugurated the Islamic Banking Branch of Bank of Khyber in Jamrud Khyber Agency by clicking the computer button and opening an account.
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