KARACHI: Engro has marked a historic milestone with the execution of a Rs133 billion transaction entirely through 100 per cent Islamic financing, to grow its telecom infrastructure vertical.
State Bank Governor Jameel Ahmad commended the collaborative effort and reiterated the central bank’s vision for digital finance, emphasising the critical role of telecom connectivity in enabling financial inclusion. “This is a great achievement which has been supported by the banks — but is also owed to the conviction of Hussain Dawood and his family in getting it funded through Islamic banking,” he said.
This funding has enabled the addition of Deodar (and its 10,000 plus telecom towers) to Engro’s portfolio. This underscores Engro’s commitment to driving digital transformation while supporting Pakistan’s determination to fully transition to an Islamic banking system.
Published in Dawn, December 20th, 2025