PESHAWAR: The Khyber Pakhtunkhwa Finance Department issued on Thursday a notice to the Bank of Khyber (BoK) managing director Shams-ul-Qayyum informing him of his termination for misconduct.

Qayyum violated point seven of his contract by publishing advertisements and levelled baseless allegations against the provincial finance minister.

The BoK managing director was charged with breaching section seven of his employment contract. 

On Wednesday, the provincial government decided to relieve the BoK chief of his duties in a cabinet meeting. 

Notice issued to the BoK MD. Photo: Geo News

Qayyum had accused Finance Minister Muzaffar Said, of the Jamaat-e-Islami, of corruption and nepotism in a notice printed in a newspaper last year.

JI MPAs had signalled to quit the coalition government if the managing director was not changed.

The coalition party had expressed its concern over the provincial chief minister delaying the decision to remove BoK's managing director and a decision to not grant more time to the government on the BoK matter was made by the party.