๐ Ahmed & Qazi has successfully completed a record-breaking PKR 1.918 trillion (equivalent to about US$7 billion) worth of listed sovereign ijarah hashtag#sukuk issues by the Ministry of Finance, Government of Pakistan on the Pakistan Stock Exchange in FY2024. ๐น๐
๐ Hitting above the unprecedented PKR 1.9 trillion mark, this constitutes the ๐ก๐ข๐ ๐ก๐๐ฌ๐ญ-๐๐ฏ๐๐ซ ๐ข๐ฌ๐ฌ๐ฎ๐๐ง๐๐ ๐จ๐ ๐ข๐ฃ๐๐ซ๐๐ก ๐ฌ๐ฎ๐ค๐ฎ๐ค ๐๐๐ซ๐ญ๐ข๐๐ข๐๐๐ญ๐๐ฌ ๐๐ฒ ๐ญ๐ก๐ ๐๐ข๐ง๐ข๐ฌ๐ญ๐ซ๐ฒ ๐จ๐ ๐
๐ข๐ง๐๐ง๐๐, ๐๐จ๐ฏ๐๐ซ๐ง๐ฆ๐๐ง๐ญ ๐จ๐ ๐๐๐ค๐ข๐ฌ๐ญ๐๐ง ๐ข๐ง ๐ ๐ฌ๐ข๐ง๐ ๐ฅ๐ ๐ฒ๐๐๐ซ.
This is a landmark achievement for hashtag#IslamicFinance in Pakistan, underscoring the country’s growing commitment to innovative and sustainable financial solutions that align with Islamic principles. โ๏ธ
Ahmed & Qazi was responsible for structuring the deal, preparing all the required sukuk documentation and assisting in the finalisation and closing of the deal in coordination with Ministry of Finance, Government of Pakistan๐ผ, State Bank of Pakistan (SBP) ๐ฆ, Pakistan Stock Exchange๐น, Central Depository Company of Pakistan Limited๐๏ธ, National Clearing Company of Pak Ltd. (NCCPL) and the JFAs.
With each public offering successfully completed, this marks ๐ ๐ฆ๐๐ฃ๐จ๐ซ ๐ฆ๐ข๐ฅ๐๐ฌ๐ญ๐จ๐ง๐ ๐ข๐ง ๐๐๐ค๐ข๐ฌ๐ญ๐๐ง’๐ฌ ๐ญ๐ซ๐๐ง๐ฌ๐ข๐ญ๐ข๐จ๐ง ๐ญ๐จ ๐ฌ๐ก๐๐ซ๐ข๐๐ก-๐๐จ๐ฆ๐ฉ๐ฅ๐ข๐๐ง๐ญ ๐๐ข๐ง๐๐ง๐๐ข๐๐ฅ ๐ฆ๐๐ซ๐ค๐๐ญ๐ฌ, and also constitutes a significant achievement for A&Q’s pan-Pakistan leading Islamic Finance practice.
A&Q team for this matter is led by Nazif Ahmed (Head โ Corporate) and Altan Ahmed (Managing Associate).
Business Recorder: https://lnkd.in/gFeJ-GpG
Meezan Bank Limited (JFA): https://lnkd.in/g84KK7Jq
