- Funding supported by a guarantee based on the BAD policy.
- Development first marks such a transaction by AfDB for Pakistan.
- The installation includes an action of 89% in accordance with the Sharia law.
A Bank based in Dubai has successfully organized a union finance installation of $ 1 billion for Pakistan, the Ministry of Finance said on Wednesday.
The five -year financing agreement was facilitated by a consortium of international investors, reflecting growing confidence in the country’s economic reform program.
Funding is supported by a guarantee based on Asian Development Bank (AfDB), marking the first transaction of this type by BAD for Pakistan. The installation, structured under Islamic principles, includes an action of 89% in accordance with the Sharia law.
According to the Ministry of Finance, other banks based in the United Arab Emirates have also established a partnership in the layout, further strengthening regional financial collaboration.
The Minister of Finance, Muhammad Aurangzeb, qualified the agreement to rule in the efforts of the country to ensure ethical and innovative financing solutions. “This historic financing arrangement highlights the strong confidence of regional and international institutions in the economic trajectory of Pakistan,” he said.
He added that the success of the funding guarantee that conforms to Sharia law highlights Pakistan’s commitment to expand its financial basis while aligning itself on the principles of Islamic finance.
The ministry described the agreement as a reflection of the confidence of international investors in the economy of Pakistan and an increase in efforts of macroeconomic stabilization in progress.
