Pakistan to lift up $1 billion from an Islamic bond denominated in US dollars

ISLAMABAD: Pakistan is looking to lift up $1 billion from an Islamic bond denominated in US dollars and plans to complete promoters within two weeks, as stated to a finance ministry official.

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The government has shortlisted four banks to arrange the Islamic alliance, or sukuk, and plans to establish the deal as early as September, the functionary stated. Pakistan lifted up $2 billion from a two-part global bond in April, it’s first later than an absence of seven years.

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