First NBP Branch in NWFP with Islamic Banking launched

The National Bank of Pakistan (NBP) Monday opened the first Islamic Banking Branch in NWFP here at Mall Road. Regional Chief, NBP, Mohammed Hanif Khan, Anwar Mehmood Meenai, Head of the Islamic Banking Division, Regional Chief NBP in Mardan Shahjehan, Senior Vice-President Mehmood-ul-Hasan, who is also operate the branch as branch manager and other staff members, people from the business community were also present.

Talking to APP, Mohammed Hanif Khan, who also inaugurated the Branch with Islamic Banking, said that the branch will work as “mother branch” of NBP in NWFP, which has also access on-line to a broadband net working of the NBP across the world. He said, initially, the branch will operate with the six members’ staff and the strength will be increased with the passage of time.

“It is an historic moments after launching the first Islamic Banking Branch in NWFP, second in the country after Karachi,” Hanif said. The manager of the branch is a very senior officer, he said. The Branch will lead Mehmood-ul-Hasan, who is Senior Vice President to facilitate people of the province.

The branch will have a target point in four regions of NWFP and similarly other branches with the Islamic Banking will be established soon at Swat, D.I. Khan, and Mardan while its net work will be extended even to Afghanistan as well, he said.

Mohammed Hanif informed that NBP was a state owned bank and most of lower middle class and middle class people have been associated so a large numbers of its valuable clients will be got facilitate.

He said with the introduction of the Islamic Banking certainly the house and micro financing sectors of the bank would get positive boost, which will not only benefit the common people but it could also have a key role in the national development.

He said, currently the need of the 700,0000 houses per annum but only we are providing 300,0000 so the deficit of 400,0000 must be worked out if there are relax in loan facilities by the banks.

With the step taking by NBP, the housing financing sector will be benefited as the common people would come forward for relax loan facilities. He said the NBP was trying to become a leading player in the growing field of Islamic Finance in Pakistan and abroad.

To set standards of best practices and performance through efficient asset allocation, and develop products based on the true spirit of Islamic finance, he added.

The NBP Regional Chief said that people of NWFP were Islamic minded and hoped that they will own the Islamic banking with open hands.

“The NBP is serving a vast majority of NWFP and the Islamic banking will further expend its network in the province”, he hoped. He said the Islamic Banking of the NBP would also be extended to Afghanistan and other neighboring countries.

Introduction of Islamic banking is a revolutionary step of the Chief of NBP Ali Raza, which will bring development and prosperity particularly to NWFP and generally to the country.

He said the Bank maintained its position as Pakistan’s premier bank determined to set higher standards of achievements. “The bank is working on special emphasis on fostering Pakistan’s economic growth through aggressive and balanced lending policies, technologically oriented products and services offered through its large network of branches locally, internationally and representative offices,” he added.

He said the bank has a key role in sports initiated by former Regional Chief, Shahjehan Khan in collaboration with former Test cricketer Iqbal Qasim and international footballer Basit Kamal.

He said, now the grant for organizing various sports events have been increased every year and some of the sports events is a regular feature of the NBP sports calendar.