The Bank of Khyber (BOK) takes a significant step towards providing accessible and Shariah-compliant financial solutions to its customers by partnering with AYS International. The Memorandum of Understanding (MOU) was signed by Mr. Adeel Rauf, CEO of AYS International, and Mr. Ali Khan Arbab, Group Head of Islamic Banking.
Under this strategic alliance, Bank of Khyber will introduce Shariah-compliant consumer financing options specifically designed for all permanent salaried employees of the KP government. This initiative will enable eligible customers to acquire a wide range of electronic items from AYS Electronic, a renowned name in the industry, through convenient and flexible financing plans. Mr. Syed Furrukh Zaeem, the Acting CEO of Bank of Khyber, expressed his enthusiasm regarding the collaboration, stating, “At BOK, our commitment has always been to cater to the diverse financial needs of our valued customers. This alliance with AYS Electronic aligns perfectly with our vision to provide the masses with innovative and Shariah-compliant financial solutions. We are excited to leverage our digital platforms to extend this consumer finance facility to deserving individuals.”
The Group Head of Islamic Banking, Mr. Ali Khan Arbab, emphasized the significance of Shariah-compliant financing, saying, “Our partnership with AYS Electronic exemplifies our dedication to promoting ethical and Shariah-compliant banking practices.
The signing ceremony was graced by the presence of senior management from both Bank of Khyber and AYS Electronic. Notable attendees included Ms Fauziah Mahmood, Head Digital & Consumer Marketing, Mr. Irfan Nisar, Head Islamic Consumer financing, Mr. Asim Hayat, Head Corporate Assets, and Mr. Masood Khalid, Head Institutional Marketing among others.
The introduction of Shariah-compliant consumer financing by Bank of Khyber and AYS Electronic is expected to create significant value for customers, empowering them to access top-of-the-line electronic products while adhering to their religious principles. This groundbreaking partnership marks a remarkable step forward in enhancing financial inclusion and fostering economic growth in the Khyber Pakhtunkhwa region.
