Ahmed & Qazi is pleased to announce that it has successfully closed a PKR 1.4 billion shariah-compliant hashtag#Istisna debt finance facility extended by a syndicate of banks and financial institutions to a hashtag#sugar mill in Sargodha.
The facility was designed as a revolving limit, with each principal repayment proportionately replenishing the available commitment of each financier, up to a final cutoff date.
For the purpose of shariah compliance, the finance was structured on the Istisna mode of hashtag#Islamic-finance, with each disbursement constituting the purchase of an identifiable number of 50KG bags of white refined sugar.
A&Q team was led by Nazif Ahmed (Head — Corporate) and Altan Ahmed (Managing Associate).
