PESHAWAR, Nov 29: A new branch of Bank of Khyber (BoK) offering interest free banking services will start functioning by December 1, 2007 at Charsadda.

With the new branch, the 7th such outlet in NWFP, the total number of BoK Islamic branches will be 10, says a press release.

The other nine branches of the BoK offering interest-free banking are at Hayatabad (Peshawar), Bannu, Quetta, Nowshera, Taimergrah, Tank, Hangu, and Site branch and New Cloth Market branch in Karachi.

The State Bank of Pakistan has allowed the BoK to open four new Islamic banking branches at Batkhela, Rawalpindi, Faisalabad and Lahore.

The bank has also got the license for converting the existing conventional branches located at Mansehra, Abottabad and Ashraf Road into Islamic banking outlets.