Peshawar: The Khyber Pakhtunkhwa Minister for Finance Muzaffar Said advocate has that strong and stable economy plays a key role in the country’s development and that is why the present government is focusing on the improvement of the economy, promotion of Islamic banking, elimination of corruption and other reforms to establish a just system in the province.
He was addressing as the chief guest at the inaugural ceremony of the newly established Islamic Banking Branch of the Bank Of Khyber at Garhi Qamardin,Kohat Road, Peshawar on Thursday.
Ex MNA, Sabir Hussain Awan,Provincial Naib Amir Jamaat-e-Islami, Hakeem Abdul Waheed,Secretary Finance,Syed Badsha Bokhari and MD Bank Of Khyber, Shamsul Qayum were also present on the occasion.
While addressing the inaugural ceremony,the Finance minister Said that Islamic banking was safe profitable and that is why the provincial government was striving to promote Islamic banking to bring prosperity in the province.
He said that provision of justice, employment opportunities and ensuring peace were among the fore most responsibilities of the government. “We want to establish an economy based on Islamic principles to get self-sufficiency and get rid of the dependence on others”,he asserted.
The minister remarked that the existing system of the country was the root cause of difference among rich and poor classes and exploitation. “Only Islamic system can ensure justice and block tyranny” he maintained.
Muzaffar Said, while referring to the role of the Bank Of Khyber, said that only purpose of establishment was to Islamize the economy and steer the province towards the goal of development. He said that the bank was getting popularity in the masses and that is why they were depositing their money in it .
“It reflects peoples’ confidence on the Bank Of Khyber”, he remarked.He said that the BOK was performing a vital role in the prosperity of the province. Terming performance of the bank as satisfactory, the finance minister hoped that soon it would achieve an important position in baking circle of the country.
Secretary Finance, Syed Badshah Bokhari said that the BOK was working for the socio-economic uplift of the province. He said that the bank was struggling to promote interest free banking in the province.
MD,BOK,Shamsul Qayum Informed that out of 116 branches of the bank .54 branches were running on Islaminc principles of banking while in 40 branches Islamic counters were established.
He disclosed the 11 more Islamic branches would be established this year while the bank would be converted into a full fledged Islamic bank in the next five years.
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