Summary Under the newly announced arrangements, the Eurobond consortium comprises Standard Chartered, Citibank, Deutsche Bank, Emirates NBD Capital, and MUFG.
ISLAMABAD (Dunya News) – The government has announced a consortium of international banks to support Pakistan's Global Medium Term Note (GMTN) and International Sukuk programmes, aiming to strengthen the country's access to global capital markets.
According to the Ministry of Finance, Finance Minister Muhammad Aurangzeb held a virtual meeting from Washington with senior executives of leading international banks to discuss measures for expanding Pakistan's presence in global financial markets.
Under the newly announced arrangements, the Eurobond consortium comprises Standard Chartered, Citibank, Deutsche Bank, Emirates NBD Capital, and MUFG.
The International Sukuk consortium includes Standard Chartered, Dubai Islamic Bank, Citibank, Emirates NBD Capital, and Mashreq Bank.
The ministry also announced that Standard Chartered, Citibank, and Deutsche Bank have been selected to manage Pakistan's rupee-denominated, US dollar-settled bond programme.
The banking consortiums have been appointed for a three-year term and will assist Pakistan in accessing international capital markets. The government said it will issue Eurobonds, Sukuk, and other international debt instruments as financing needs arise.
According to the Ministry of Finance, improving economic indicators, fiscal discipline, and ongoing structural reforms have strengthened investor confidence in Pakistan's economy.
Finance Minister Muhammad Aurangzeb said the government's objective is to broaden the international investor base, reduce borrowing costs, and build a stronger long-term financial foundation for the country.
