Ajman Bank UAE arranges $275 million syndicated loan for Pakistan

Ajman Bank UAE arranges $275 million syndicated loan for Pakistan

Dubai: Syndicated financing of $275 million has been arranged by the UAE- based Ajman Bank for the government of Pakistan.

Ajman Bank organized the one-year Islamic loan on a Murabaha structure; a cost-plus-profit arrangement which complies with the Islamic finance standards. Several banks participated in it. An amount of $375 million syndicated loan was signed on between the government and the UAE banks. This included both conventional and Islamic tranches.

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