UAE’s Ajman Bank says it arranged $275m loan for Pakistan
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
