The Bank of Khyber has opened "Raast" Islamic Banking branch in district Mansehra here on Monday. BoK Managing Director Bilal Mustafa formally inaugurated the bank's new "Raast" Islamic banking branch in a ceremony held here in Shahrah-e-Resham, district Mansehra.
BoK Managing Director Bilal Mustafa while speaking on the occasion said BoK was committed to cater the banking requirements of Islamic banking as well as conventional in a befitting manner to encourage the economic developmental activities in the region. He said Raast Islamic banking had trader friendly network in all major cities of the country, saying they were growing the network by establishing more branches in this year and to further enhance in 2013. Since 2003, he informed the bank had also widened its Islamic banking network by providing maximum facilities to consumers across the country.
Mustafa further said Raast Islamic banking system was fully supervised by proper Shariah Compliant Committee as per State Bank of Pakistan's rules. The Islamic Banking Group and full time Shariah Compliance Department was being ensuring proper compliance of all Shariah rules in this regard, saying the bank utmost duty to provide Shariah Compliance schemes, which yielding positive results from the clients.
The MD said Raast Islamic banking system had posted considerable growth in profit of Islamic branches during last three years, and further informed that the system was actively working on new Islamic products and with the establishment of new Islamic banking branches it would further enhance its clientage. BoK Raast Islamic Banking Branch Manager Tariq Nawaz Khan coordinated the formal inauguration ceremony.
On the occasion, former chairman & Managing Director BoK, Bhashir Ahmed Khan; Executive Director, Mir Javed Hashmat; BoK's Group Head Credits Imran Samad; Islamic Banking Group Head, Kamran Masud Khan; Head Islamic Business Development, Sohail Khan; Head Special Assets Management Muhammad Yasin Chaudhry and Head Marketing Syed Ali Nawaz Gilani, notables of the area and business community were present.
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