Bank of Khyber Raast Islamic banking and International Consulting Associates (Pvt) Limited Signs Memorandum of Understanding to Expand Financial Services to the Residents of Newly Merged Districts
Peshawar (13-Feb-2023) – Bank of Khyber Raast Islamic banking and International Consulting associates (Pvt) Ltd.have signed a Memorandum of Understanding (MOU) to expand access to financial services to the residents of South Waziristan, North Waziristan and Khyber Districts. This partnership will help improve the financial well-being of individuals and communities in these regions.
The partnership will bring together the expertise of both organizations to host a series of financial literacy trainings on State Bank of Pakistan approved training curriculum. These sessions will cover a wide array of topics, including budgeting, saving, investing, credit management, and will target low-income families, students, women and unbanked MSMEs. As part of MOU iConsult will also facilitate and mobilize communities to open bank accounts and avail financial services. Furthermore, under the MOU women belonging to South Waziristan, North Waziristan and Khyber districts will be trained and provided internship at BOK.
"We are excited to partner with International Consulting Associates (pvt) Ltd to expand access to financial services in Merged Districts," said Ali Khan Arbab, Group Head Islamic Banking (A). "We believe that everyone deserves access to financial services that can help them achieve their goals, regardless of where they live. This partnership will help us bring these services to communities that need them the most."
"We are proud to join forces with Bank of Khyber to improve financial well-being in Merged Areas," said Kashif Maqbool Sehgal Regional Head KP iConsult "We understand the challenges that come with limited access to financial services, and we are committed to providing solutions that support individuals and communities in these regions."
This activity is part of USAID funded project, “FATA Economic Revitalization Programme” ( FERP). The project is implemented by UNDP and contributing to long term economic growth of Merged Areas by supporting Government of Khyber Pakhtunkhwa by creating an enabling environment for businesses, engaging entrepreneurs, and working with private sector to build capacities for inclusive economic growth.