PESHAWAR, Nov 5: The Bank of Khyber and the Malak Exchange Company on Monday signed an agreement for facilitating the flow of remittances to the NWFP from the Gulf and Far Eastern countries.

The agreement signing ceremony was held at the Bank of Khyber’s headquarters, where its acting Managing Director Qazi Munir-ul-Haq, Senior Vice-President Arbab Riaz Ahmad and Haji Abdul Razziq Khan, chairman of the Malak Exchange Company and others were present.

Speaking on the occasion, Qazi Munir-ul-Haq said the agreement would facilitate the BoK clients and people of the NWFP working in Gulf and Far Eastern countries and urged them to send their money to home in a safe and convenient way.

He said foreign remittances played an important role in economic development of the country. He hoped that the Malak Exchange, being an A-rated company in foreign exchange business, would play its role in speedy and timely transfer of remittances of overseas Pakistanis.