We advised the participating Islamic banks on Pakistan’s first Sovereign Hybrid Sukuk, raising PKR 109 billion, and establishing a new benchmark for scale and structuring sophistication in the domestic Islamic capital markets.
In contrast to routine, short-tenor issuances, the transaction introduces a hybrid sovereign sukuk framework designed to accommodate greater flexibility in underlying asset composition and issuance mechanics, while preserving Shariah integrity within a sovereign funding context, representing a more deliberate shift towards scalable, programmatic Islamic financing solutions in Pakistan.
The mandate was led by Nazif Ahmed.
Congratulations to the Ministry of Finance, Government of Pakistan and the joint financial advisors on the successful execution.
