Dubai Islamic Bank | Pakistan

KARACHI: In a renewed push to diversify funding sources and tap into China’s vast capital market, a Ministry of Finance team is holding high-level meetings in Beijing this week to attract investment for Pakistan’s debut Panda Bond issuance. The outreach comes as Dubai Islamic Bank (DIB) has successfully arranged a $1bn syndicated loan for Pakistan, partially backed by the Asian Development Bank — the first such guarantee-based facility for the country. Khurram Schehzad, adviser to the finance minister, said in a post on X on Wednesday that the MoF team had engaged in technical discussions with prospective investors, underwriters, guarantors, a Chinese rating agency, and legal advisers. The meetings, which began on July 7, will continue until July 11 as part of a non-deal roadshow (NDR) ahead of Pakistan’s debut Panda Bond issue. Mr Schehzad noted that the roadshow had attracted encouraging initial interest, reflecting investor confidence in Pakistan’s reform trajectory and its improving credibility in interna...