PESHAWAR, Sept 19: The Khyber Pakhtunkhwa government is seriously thinking about establishing Islamic Microfinance Bank and Provincial Industrial Development Bank to help create employment opportunities and bring about industrial growth in the province and Fata.
Groundwork in this respect has already been initiated.
This was disclosed by provincial Finance Minister Sirajul Haq during a meeting with new acting Managing Director of the Bank of Khyber (BoK) Imran Samad at the Civil Officers’ Mess on Thursday.
During the meeting, the two discussed the policy guidelines of the provincial government on banking and investment sector and role of BoK in this respect.
The minister informed the acting BoK managing director about the priorities of the government for the people’s welfare.
He said the government did not want to spend the people’s hard-earned money on realisation of failed ideas and instead it wanted to provide them with better opportunities for social and economic welfare in real sense.
Mr Siraj reiterated the government’s stand to put the youths on the ‘right and professional track’, saying youngsters could play their effective role in the overall growth of the province.
He appreciated the BoK’s role in development of industrial and agro-based entities, especially through microfinance activities.
The minister stressed the need for provision of better earning opportunities to women, whose gold and money remain idle at home for decades.
“BoK could provide proper financial assistance to utilise women’s resources and energies for the uplift of the social and business sectors,” he said.
Mr Siraj said overseas Pakistanis should be encouraged to play their role in investment sector of the province.
He urged the acting BoK managing director to prepare a five-year plan of targets for the bank’s operational growth.
The acting BoK chief invited the minister to formally inaugurate his bank’s Islamic banking branches in Chitral and Gilgit.
The minister accepted the invitation and said BoK should open its branches outside the country to attract Pakistani expatriates.
The acting BoK managing director said his bank had already established its branches in every district headquarters of the province for expatriates, who could send money home within 24 hours.
He said BoK was providing home remittance services through its branches across the country and that the network would further expand and strengthen this year.
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