Finmin thanks Dubai Islamic Bank for bridging financing gap

MG News | October 27, 2024 at 04:09 PM GMT+05:00

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October 27, 2024 (MLN): Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb expressed gratitude to the Dubai Islamic Bank (DIB) for its timely assistance in bridging Pakistan’s financing gap, said a media brief issued by the Finance Division yesterday.

In a meeting with Dr Adnan Chilwan, Group CEO of DIB, he commended the Bank's efforts and plans to expand its operations in Pakistan, which will enhance the country's financial landscape.

During the discussion, the Finance Minister highlighted the recent upgrade of Pakistan's credit rating by Fitch and Moody's, signaling growing international confidence in the country’s economic stability.

He also shared the government's plans to tap into International Capital Markets (ICM) through the issuance of an inaugural Panda Bond, aimed at diversifying the nation's financing base.

Both parties discussed various lending options offered by DIB to support the Government of Pakistan's financial initiatives, with a mutual interest in deepening future collaboration.

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