AZHAR ALI KHAN
KARACHI: The central bank has given a 'go ahead' to the Sindh Bank for launching its operations.
The State Bank of Pakistan has granted a license to the Sindh Bank on Friday.
Bilal Shaikh, who is a senior banker will be heading the bank as the Chief Executive while Javed Mehmood, Wazir Ali Khoja and Abdul Wahab have been inducted in the Board of Directors (BoD) from the private sector.
Likewise, the Chief Secreatry Sindh, Ghulam Ali Pasha , additional secretary and the secretary Finance Sindh would also be the part of BoD.
The bank is being set up with a paid up capital of Rs 10 billion and it would facilitate agriculturists and enhance the size of agriculture credit.
"The Sindh Bank will provide loans to the farmers to boost agriculture output," said an official.
He also said that the bank is being set up on the desire of the President Asif Ali Zardari and will open 50 branches in the country by the end of year 2011 with one branch in every district of Sindh Province and one each in every province of Pakistan.
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