Pakistan Observer

BoK Raast Islamic Banking starts

Staff Reporter

Tuesday, April 10, 2012 - Lahore—Mr. Bilal Mustafa, Managing Director Bank of Khyber (BOK) said BOK is committed to cater the Banking requirements of Islamic Banking as well as conventional in a befitting manner in order to encourage the economic developmental activities in the country through its expanding network of branches. He was speaking at the formal inauguration of BOK Raast Islamic Banking branch at Shah Alam Market- Lahore this afternoon in a simple but graceful ceremony.

The inaugural ceremony was also attended by notables of the area & business community. The formal inauguration ceremony of BOK Raast Islamic Banking branch was also attended by BOK’s Group Head Islamic Banking Mr. Kamran Masood, Head Islamic Banking Business Development Mr. Sohail Khan, Head Business Development Mr. Lal Nawaz Khattak, Head Marketing Syed Ali Nawaz Gilani, Rana Ehsan ul Haq, Mr. Fakhar Zaman, Ms. Ayasha Amir , while Hafiz Muhammad Mubbashir Warraich Manager coordinate the inauguration ceremony.\

Mr. Bilal Mustafa said that Raast Islamic Banking of BOK has trader friendly network in all major cities of the country and we are increasing this net-work by establishing 15 more branches by December 2012 and it will further enhance in 2013. Being ‘“A” rated Bank, BOK has also been serving Islamic Banking clients by providing them all Banking services through its net-work across the country successfully since 2003. Mr. Bilal Mustafa also mentioned that BOK Raast Islamic Banking is supervised by proper Shariah Compliant Committee as per State Bank of Pakistan’s rules. In this regard Islamic Banking Group and full time Shariah Compliance Department is ensuring proper compliance of all Shariah rules.

This is a prime responsibility of BOK to provide Shariah Compliance schemes which are now getting encouraging results from the clients. Mr. Bilal Mustafa mentioned that BOK Raast Islamic Banking showed considerable growth in profit of Islamic Branches during last three years. Mr. Bilal Mustafa also mentioned the BOK Raast Islamic Banking Group is actively working on new Islamic Products and with the establishment of new Islamic Banking branches will further enhance its clientage.
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