Bank of Khyber Announces Extraordinary General Meeting for Director Elections and New Business Approvals

Peshawar, The Bank of Khyber has scheduled an Extraordinary General Meeting (EGM) of its shareholders for May 31, 2024, at the bank’s head office in Peshawar. The meeting will address several key points, including the confirmation of minutes from the previous annual meeting, the election of directors, and the proposal to establish a new exchange company.

The agenda includes the election of three directors for a three-year term starting June 1, 2024, from a pre-determined slate of nine candidates. The directors up for re-election are Mr. Asad Ali Shah, Mr. Tahir Jawaid, and Mr. Muhammed Shahid Sadiq. Additionally, the shareholders will review and possibly approve the establishment of a currency exchange subsidiary.

Shareholders unable to attend in person may participate via video link, a provision made to accommodate the maximum number of shareholders. The bank has also enabled e-voting and postal voting for decisions on special business items, such as the election of directors and the approval of the new exchange company.

The establishment of the proposed subsidiary, named BOK Currency Exchange (Pvt) Limited, was previously discussed at the board’s 183rd meeting. The planned entity would have an authorized capital of PKR 1 billion and a paid-up capital of PKR 500 million, aiming to operate as a fully-owned subsidiary of the Bank of Khyber.