UAE’s Ajman Bank says it arranged $275m loan for Pakistan
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DUBAI: UAE-based Ajman Bank arranged a syndicated financing of $275 million for the government of Pakistan in May, the bank said on Monday.
A number of banks participated in the one-year Islamic loan, which has a Murabaha structure and was solely arranged by Ajman Bank, it said in a statement.
The government last month signed a $375 million syndicated loan with UAE banks which included conventional and Islamic tranches.
A murabaha is a cost-plus-profit arrangement which complies with Islamic finance standards.
Published in Dawn, July 2nd, 2019
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Jul 02, 2019 11:45am
No need to repay this loan.
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Jul 02, 2019 12:14pm
YAY!!! More loans !!
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Jul 02, 2019 01:48pm
Fire works and celebrations. One more loan passed successfully. I wish I’m in Pakistan when one of these loans are passed. Would love to witness the celebrations and fireworks and all the pomp and show. Usually here it is reserved for when we get a great order or make a handsome profit through earnings.
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Jul 03, 2019 07:15am
@Vikas, yet 3.5% of your population is below poverty line. GDP per capita ppp is not so different from Pakistan. HPI is higher than global average. 6.7% of population is unemployed. HDI is also not much different from Pakistan. Happiness index is lowest in the region. How a life of common indian is different from a common Pakistani?
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