UAE Banks Raise USD 350 Million in Murabahah Syndicated Financing for Pakistan

United Arab Emirates (UAE)-based Ajman Bank and Commercial Bank of Dubai (CBD) have successfully concluded a USD 350 million Murabahah Syndicated Financing Facility (the Facility) on behalf of Pakistan’s Ministry of Finance, according to a statement issued on the 28th of July 2021.

Why it Matters?

The Facility, which was originally mandated for USD 200 million, was oversubscribed by over 75%, driven by robust demand from local, regional as well as international investors, and was fully subscribed by 12 banks. The Facility reaffirms investor confidence in the potential of Pakistan, supported by continued investments in the country’s physical infrastructure and ongoing structural adjustments. According to Mohamed Amiri, Chief Executive Offi...