CPDI urges Khyber Bank to enhance transparency 

PESHAWAR: The Centre for Peace and Development Initiatives (CPDI) has written a letter to Irfan Saleem Awan, Acting CEO of the Khyber Bank, highlighting concerns about compliance with transparency regulations.

CPDI has highlighted that in the context of financial institutions, the disclosure of policies through official websites plays a crucial role in empowering customers, investors, and the general public with the knowledge necessary to make informed decisions. It is emphasized that Khyber bank has not fully adhered to legal obligations under Article 19-A of the Constitution and Section 5 of the Khyber Pakhtunkhwa Right to Information Act 2013.

The section, which pertain to proactive disclosure of information, mandate public bodies to disclose a wide range of information, including policies, rules, regulations, notifications, circulars, instructions, budget and expenditures, and other legal documents, as well as perks and privileges of officials through official website. 

This statutory provision is crucial in promoting openness, accountability, and informed public participation. Additionally, it aligns with good corporate practices to ensure maximum transparency in the functions of institutions like banks, as explained in the letter. Unfortunately, not all information have been disclosed on the official website of Khyber bank, compromising transparency and accountability. Mr. Mukhtar Ahmad Ali, Executive Director of CPDI, emphasizes, “Access to information is a fundamental right and a cornerstone of good governance. Proactive policy disclosure is crucial for transparency and public trust.” 

CPDI urges Khyber Bank to promptly rectify this oversight by comprehensively disclosing all policies on the official website. CPDI further advocates for Khyber Bank to recognize the importance of proactive policy disclosure, not only as a legal obligation but also as a matter of public significance. The comprehensive and up-to-date disclosure of all information on the official website is crucial for promoting transparency and fostering public trust.