Ahmed & Qazi

A&Q closes tijarah deal within two weeks

In mid-December, we were engaged by a syndicate led by Meezan Bank Limited who intended to lend PKR 1.5 billion to Masood Textile Mills Limited through a syndicated Islamic tijarah facility, with the syndicate banks purchasing each shipment of made-up fabrics and receiving sale proceeds from buyers. The deal involved the giving of possession at delivery points as well as a double-layered agency structure.

With the year-end approaching, our team worked closely with MBL and, through our combined efforts, got the entire deal successfully closed in less than two weeks.

Our team was led by Nazif Ahmed (Head – Corporate) and Altan Ahmed (Senior Associate) with assistance from various other associates at the firm.