LAHORE - The Bank of Khyber has planned to establish 21 additional branches, including seven branches of Islamic banking to achieve the total target of 74 mark in 2011. This was stated by Bank of Khyber Managing Director and CEO Bilal Mustafa while talking to the media men hours after the launch of BOK Islamic banking branch at Shah Alam Market here on Tuesday. BOK MD said that Bank of Khyber is the first government sector bank, which introduced Islamic banking system in 2003 with new innovations in conventional banking in the country. He said that with 54 total branches all over the country, 21 especially deal with Islamic banking system. He added the bank established 9 branches in 2009 and 11 branches in 2010. Presently there are four branches in Lahore out of which 2 are Islamic Sharia Compliant. However every branch has an Islamic banking counter, he pointed out. Mustafa said the Bank of Khyber deposit growth is Rs 1 billion annually while existing deposits are Rs 9.5 billion. The bank possesses Rs 46 billion assets out of which Rs 11-12 billion are Islamic banking assets. The MD observed that the bank earned total profit of Rs 408 million up to June 2010 out of which Rs 298 million were from Islamic banking. He said the BOK Islamic branches profit of Rs 66 million in 2007 and Rs 86 million in 2009. He stated BOK 23 percent share belongs to Islamic banking and the same system earns more for the bank. The bank presently has over 100,000 accountholders. It is to be noted that in December 2002, BOK decided to initiate Islamic Banking Services for customers. As per policy of the Bank, BOK is perusing Islamic and conventional banking side by side. We are opening new Islamic full service branches as per demand of customers and are also extending Islamic banking facilities through dedicated Islamic Desks in all conventional banking branches, he said. The government of Khyber Pakhtunkhwa constituted a Shariah Supervisory Board (SSB), subsequently renamed as SSC, to guide and supervise the Banks Islamic operations presently comprising of the scholars Syed Muhammad Abbas, Mufti Muhammad Zahid, Dr. Dost Muhammad, Shahzad lqba Sham and Muhammad Ayub, he said.