Section Provisions
BANK OF KHYBER ACT, 1991 BANK OF KHYBER ACT, 1991 [ACT No. XIV of 1991] [Gazette of N.‑W.F.P. Extraordinary, 20th, June, 1991] An Act to establish the Bank of Khyber in the North‑West Frontier Province Preamble. WHEREAS it is expedient to establish a bank for providing commercial banking and. investment banking services in the North‑West Frontier Province to:‑‑ (a) mobilize private savings and public funds for diverting the same to productive channels and ensure their availability; (b) promote industrial, agricultural and other socio‑ economic processes through the active participation of private as well as public sectors in the province; (c) help under‑developed areas and create employment opportunities specially in the rural areas. of the province. Further, to guide and assist the people of North‑West Frontier Province serving overseas, to effectively and profitably invest their foreign savings in the province as well as other parts of Pakistan; (d) create a diversified and sound portfolio for utilization of otherwise idle funds and their investments in the existing as well as new ventures specially in the pioneering of high‑tech, agro‑based, export‑oriented and engineering projects to ensure maximum returns; (e) participate and seek the share of the Province in the capital alar ket of Pakistan by way of subscription through the locally pooled resources in the leading stock exchanges of the country and eventually paving the way for the establishment of stock market in the province; It is hereby enacted as follows: