Bank of Khyber appoints Sher Mohammad Mohmand as CEO of BOK currency exchange company

PESHAWAR: The Bank of Khyber (BoK) has approved the placement of senior banking executive Sher Mohammad Mohmand as the Chief Executive Officer (CEO) of BOK Currency Exchange Company (Private) Limited on deputation for a period of three years, according to an official notification issued by the bank's Human Resources Development Group.

The notification, dated July 3, 2026, states that the competent authority has approved the appointment of Sher Mohammad Mohmand, currently serving as Executive Vice President (EVP) and associated with the Managing Director Secretariat of the Bank of Khyber, to lead the bank's exchange company.

According to the document, the Board of Directors of the Bank of Khyber has also approved that Mohmand will initially serve as the Chief Operating Officer (COO) of BOK Currency Exchange Company until he successfully obtains the Fit and Proper Test (FPT) clearance from the State Bank of Pakistan (SBP). Following the regulatory clearance, he will formally assume the office of Chief Executive Officer (CEO).

The appointment has been made on a three-year deputation, during which Mohmand will continue to be governed by the service rules, policies, terms, and conditions applicable to Bank of Khyber employees. He will remain entitled to his salary and all admissible employment benefits under his existing service arrangements.

However, the notification clarifies that the payment of his salary and related benefits during the deputation period will be borne and disbursed by BOK Currency Exchange Company (Private) Limited in accordance with the approved terms and conditions of the deputation.

The Bank of Khyber has also directed the Company Secretary of BOK Currency Exchange Company to formally notify the bank once Mohmand assumes charge after completing all required joining formalities, enabling the bank to complete its official records and necessary administrative procedures.

The notification has been signed by Zarak Khan, Head of HR A&M Division, and Irfan Saleem Awan, Group Head (A), Human Resources Development Group (HRDG), Bank of Khyber.

Copies of the notification have also been forwarded to the Managing Director Secretariat of Bank of Khyber, the Board of Directors of BOK Currency Exchange Company (Pvt.) Ltd., the company's Head of HR & Administration, and the concerned executive for information and necessary action