This week, A&Q has been engaged by a syndicate of Islamic banks and Islamic windows of conventional banks for the extension of shariah compliant facilities of PKR 750 million to a major construction and engineering company with domestic and international operations.
The company will use the facilities primarily to settle existing conventional facilities, thereby converting its debt obligations from conventional to shariah compliant.
The facilities will be extended on a complex diminishing musharaka structure involving over 90 different assets.
A&Q team is led by Nazif Ahmed (Head – Corporate) and comprises various associates at the firm.
