BoK to open five more Islamic banking branches

The Bank of Khyber (BoK) is going to open five more branches of the Islamic banking in five different cities of the country, bank sources told Business Recorder on Saturday. Three of the five new branches would be opened in three cities of Punjab and one each in Sindh and Frontier province.

The cities where the branches of Islamic banking would be opened, include Rawalpindi, Faisalabad, Lahore, Karachi, and Batkhela in Frontier province. All arrangements for the opening of branches, including renovation of the premises and construction of the offices are underway. The branches are likely to be operational by the end of the current calendar year.

The financial results of the bank for the third quarter of the current calendar year ending September 30 have already approved by the board of directors of the bank. The indicators have shown significant improvement.

Meanwhile, the Naib Qasids of the bank arranged a high-tea in honour of the senior management of the bank. The bank has witnessed change in the top management after its Managing Director tendered resignation from his post. In the wake of the resignation of the managing director the provincial government had tasked senior most executive and senior banker Qazi Munir-ul-Haq to run the affairs of the bank.