PESHAWAR: Khyber Pakhtunkhwa (KP) Governor Faisal Karim Kundi has directed the Bank of Khyber (BoK) to prepare a solar financing scheme for the public and resolve all pending issues related to the bank by the first week of November.
The directives were issued during a meeting on the Bank of Khyber, chaired by the governor in Peshawar on Wednesday. Adviser to the Finance Department Tariq Mahmood Pasha, the Special Secretary Finance, the bank’s managing director and other officials attended the meeting.
According to the briefing, the bank’s managing director informed the governor about the institution’s performance, achievements, challenges and future objectives.
Bank of Khyber Reports Progress in 2024-25
Officials told the meeting that the financial year 2024-25 had been a period of improved performance for the bank.
The Bank of Khyber currently operates 256 branches across Pakistan, including 170 branches in Khyber Pakhtunkhwa, making the province home to its largest branch network.
The meeting was also informed that the bank had transitioned to an Islamic banking system in accordance with Islamic principles and had taken steps to introduce reforms, restructure its operations and implement institutional changes.
Officials said the bank’s Road to Transformation programme was progressing, while work was underway to digitise services and upgrade its mobile application to improve customer convenience.
New Services and Financial Schemes
The bank is preparing to operationalise its currency exchange company, Bank of Khyber Exchange Company (Private) Limited, in the near future. A remittance card is also expected to be introduced to facilitate money transfers from overseas Pakistanis.
Officials further informed the meeting that a memorandum of understanding had been signed with Pakistan Post.
The bank is providing financial assistance under two federal government and four provincial government loan schemes. These include Ehsaas Naujawan, Ehsaas Hunar, Ehsaas Apna Ghar, the Prime Minister’s Apna Ghar scheme and agricultural financing programmes.
The bank is also working to introduce modern financial services in the agriculture and housing sectors.
Legal Issues and Board Challenges
The meeting reviewed legal issues concerning the Bank of Khyber’s Board of Directors, along with other administrative challenges.
Governor Faisal Karim Kundi directed the relevant authorities to consult the Law Department to address the legal matters related to the board.
He also instructed the bank to resolve all outstanding issues and present a follow-up briefing during the first week of November.
Proposal to Support Police Martyrs’ Children
The meeting also discussed a proposal to open an account with the Bank of Khyber to cover the educational expenses of children of police martyrs.
In addition, the governor directed the bank to increase public awareness of its financing schemes, particularly those related to agriculture, housing and other key sectors.
