Muhammad Ayaz has joined the board of directors of the Bank of Khyber as the representative of the Khyber Pakhtunkhwa government following his appointment as secretary of the provincial Finance Department. He replaces Kamran Ahmed Afridi in the position, with the change taking effect on October 12, 2026. The appointment links Ayaz’s new administrative role with the provincial government’s representation on the board of the bank, which operates as a financial institution in Pakistan’s banking sector. The development was disclosed by the Bank of Khyber in a notice submitted to the Pakistan Stock Exchange (PSX) on Wednesday, October 14, 2026.
According to the bank’s disclosure, the Government of Khyber Pakhtunkhwa appointed Ayaz as secretary of the Finance Department with effect from October 12. Under the arrangement outlined in the notice, he will assume the position of director on the Bank of Khyber board by virtue of his appointment as finance secretary. This makes the board position an ex-officio role associated with his government posting rather than a separate appointment unrelated to his administrative responsibilities. His appointment consequently replaces Afridi as the provincial government’s representative on the bank’s board.
The notice submitted to the PSX formally informed investors and the market about the change in government representation. The disclosure identified Ayaz’s appointment as finance secretary and confirmed that he would assume the board position in that capacity. Such notifications provide publicly listed companies with a mechanism to communicate changes in their governance structure and other developments that may be relevant to investors. In this case, the notice establishes the effective date of the appointment and clarifies the relationship between Ayaz’s provincial government responsibilities and his role at the bank.
The Bank of Khyber’s board of directors oversees the institution’s governance and strategic direction, while the provincial government’s representative provides a formal link between the government and the bank’s board. Ayaz’s position as finance secretary therefore places him in a role that combines provincial financial administration with representation on the bank’s governing body. The announcement, however, does not detail any changes to the bank’s policies, management structure or business strategy resulting from the appointment.
The change follows Ayaz’s appointment to lead the Khyber Pakhtunkhwa Finance Department, with the board representation taking effect on the same date. Kamran Ahmed Afridi has been replaced in the government representative position as a result of the administrative change. The bank’s disclosure does not provide further information about Afridi’s subsequent responsibilities or whether any additional changes to the board are planned.
The appointment marks a change in the Khyber Pakhtunkhwa government’s representation on the Bank of Khyber board as the province’s finance department moves under Ayaz’s leadership. The development was formally communicated through the bank’s PSX filing, confirming October 12, 2026, as the effective date. No additional board changes or new banking initiatives were announced alongside the notification.
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