Khyber Pakhtunkhwa Senior Minister Sirajul Haq has emphasised upon the officers of Bank of Khyber (BoK) to perform their professional obligations with full dedication and make serious efforts towards strengthening Islamic banking by accepting it as a challenge. He was speaking to a delegation of the BoK Officers Association and some other senior officials during separate meetings here on Sunday.
Haq, who is holding the portfolio of KP Minister for Finance, asked the officials to focus on research in baking system. The minister said that Islamic banking was fast gaining popularity in the world and promotion of the system would end the era of exploitation. "Freedom from interest-based economy would guarantee the development of Pakistan," he added.
He said that Islamic banking was being practised in over 70 countries of the world and presently a huge $600 billion investment was being made in the sector.
He said that the Bank of Khyber being a key financial institution of KP and its progress was critical to the development and wellbeing of the people of the province. He rejoiced that all Islamic branches of BoK made a record business which reflected the people's confidence in the bank. He attributed the prevailing poverty and unemployment to the interest-based banking system.
He urged upon the officials to further expand Islamic banking network along with conventional branches to meet the international and local requirements in the coming days.
The minister also said that the KP government had firmly taken up the issue of net-hydel profits and other resources with the federal government and expressed the hope of a positive outcome in this regard.