PESHAWAR: Khyber-Pakhtunkhwa (K-P) Chief Minister Ali Amin Gandapur urged overseas Pakistanis to send remittances through the Bank of Khyber to strengthen financial institutions and ensure economic stability. Speaking at the launch of the bank’s Islamic banking service, he emphasized the importance of an interest-free banking system for economic progress and highlighted K-P’s compliance with IMF targets. He assured investors of government incentives to boost confidence in the Bank of Khyber and the administration.
Bank of Khyber Chairman Ikramullah Khan announced plans to expand Islamic banking branches nationwide, following State Bank of Pakistan guidelines. Gandapur also addressed security concerns, allocating Rs2 billion for CCTV cameras and checkpoints, vowing to eliminate terrorism and resolve tensions in Kurram district through dialogue and action.
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This call contrasts with PTI founder Imran Khan’s earlier appeal for overseas Pakistanis to boycott remittances. Despite political tensions, Pakistan’s remittances surged to $3 billion in January 2025, a 25.2% year-on-year increase, with cumulative remittances for FY2025 reaching $20.8 billion, up 31.7% from the previous year. Major contributors included Saudi Arabia, the UAE, the UK, and the US. Analysts expect this upward trend to continue.
