Pakistan explores financing options with Sharjah Islamic Bank
Pakistan's Finance Minister met with Sharjah Islamic Bank to discuss economic progress and financing partnerships.
Finance Minister Senator Muhammad Aurangzeb met with a delegation from Sharjah Islamic Bank in Bangkok, Thailand, and discussed ways to strengthen its economic ties and explore financing options with international partners, the Finance Ministry said in a statement posted by PID.
The meeting, held on the sidelines of the World Bank Group–IMF Annual Meetings 2026, covered Pakistan's economic progress and financing partnerships. The minister highlighted the country's improved fiscal and external indicators, stronger foreign exchange reserves, and credit rating upgrades.
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The two sides discussed potential financial instruments, including Sukuk, rupee-denominated dollar-settled instruments, and Panda bond issuance. The minister emphasized the need to replace costly short-term debt and extend maturities.
The delegation reaffirmed its support for a Sukuk issuance and discussed investment opportunities in refinery upgrades, power distribution privatization, and airport outsourcing.
The Finance Minister also outlined plans to develop capital market benchmarks and expand lending to businesses, small and medium-sized enterprises (SMEs), and the agriculture sector.