The federal government on Tuesday had accorded its approval for establishment of FATA Investment Bank. In this connection the State Bank has also sanctioned its approval with its N.O.C forwarded to the Governor’s secretariat, under whose jurisdiction the bank would operate. 

President Asif Ali Zardari would be inaugurating the first ever branch of the bank, while appointments of educated personnel from various tribal areas would also be initiated by next week. 

All revenue of Governor Secretariat and its subordinate departments would be transferred to this bank, for which an initial of Rs24.99 million has been allocated. Earlier, Bank of Sindh, Bank of Punjab, Bank of Khyber were already operational, while move is underway for Bank of Balochistan as well.