BoK to open new branches in Torkham, other areas: MD

The Bank of Khyber, Managing Director, Shamsul Qayyum has said the bank will open its new branch at Torkham along with other 14 various areas in the current financial year. This, he disclosed during a meeting, held at Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI), which was chaired by its president Faud Ishaq, according to a press release issued by the chamber here on Monday.
Shamsul Qayyum said the new branch of BoK at Torkham and other places would full facilitate business community and common man. He said the measures have made to develop the bank on modern line, while housing, rental, car financing and principle financing along with introducing various products. He furthermore said all branches have been upgraded as per modern latest technology. During the meeting, president of Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) and the Managing Director, Bank of Khyber (BoK) have agreed to ensure issuance of soft loans for traders and industrialists in the province.
The meeting was also attended by the chamber vice president Haji Iqbal Khan Afridi, executive committee members, Flour Mills Association provincial chairman, Malik Iftikhar Awan, and others. Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) president urged the Bank of Khyber to extend soft loans facility to terrorism affected business community. He proposed the bank also prepare functional plan, feasibilities reports and projects along with playing proactive role for promotion of Small and medium enterprises (SMEs) sector in the province.
Praising the Bank of Khyber for offering better services to business community, under supervision of Managing Director, Shamsul Qayyum, and commended the positive reforms, initiated by the bank management, he called upon the BoK to play its practical role in economic development of the province.
Ishaq regretted that the Khyber Pakhtunkhwa was declared as red-zone by the commercial banks, which were lending less than 2 per cent, against their gain of 37 per cent deposits from the province. He said security has much improved following successful military operation Zarb-e-Azb in Waziristan agency, which would grow economy, industrialisation in KP, besides would also enhance trade. Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) chief urged the BoK to extend soft-loans for investors and SMEs in the Khyber Pakhtunkhwa, especially flour mills and other sectors.
Iqbal Afridi, vice president of the chamber on the occasion offered the Bank of Khyber to make investment under a joint venture into various projects, worth of Rs 1000million and urged the provision of working capital to industries on priority basis. The Bank Managing Director, while speaking at the meeting agreed with all recommendations and proposals of the Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) and assured the bank would provide all facilities and best services to business community of the province. He informed the Bank has planned to open its branch at Torkham and 14 other places in the current financial period.