A major milestone in Pakistan’s debt capital markets achieved — the highest amount of debt ever raised in a single year!
Proud to have successfully led as the transaction legal counsel a whopping PKR 2 trillion sukuk series in FY2024 by the Ministry of Finance, Government of Pakistan by way of public offerings on the Pakistan Stock Exchange – PSX, shattering various records.
We structured these issues on a complex ijarah mode of Islamic finance, for which a host of government airports, roads, highways, buildings and other public sector assets were transferred and packaged into the sukuk instruments.
This marks a crucial landmark in Pakistan’s transition to shariah-compliant financial markets.
Congratulations to Ahmed Ali Siddiqui and Jawad Tahsin-CSAA, CICC at Meezan Bank Limited (the lead JFA) as well as the other JFA teams, Rabia Ahmed, CFA at MoF, Altan Ahmed and the rest of our team at Ahmed & Qazi for this accomplishment!
