The unseen photo was taken during their visit to India to promote their 2017 action movie 'xXx: Return of Xander Cage'
Ajman Bank and Commercial Bank of Dubai have raised $350 million (Dh1.28 billion) in Murabaha syndicated financing for the government of Pakistan.
The two UAE banks acted as mandated lead arrangers and book-runners for the facility on behalf of Pakistan’s Ministry of Finance. The Shariah-compliant Ajman Bank also acted as an investment agent for the facility.
Originally mandated to raise $200 million, the syndication facility was oversubscribed more than 75 per cent, driven by strong demand from local, regional and international investors. The transaction was fully subscribed by 12 banks, said a press statement issued on Wednesday.
The strong response from investors affirms investor confidence in Pakistan’s potential, supported by ongoing structural adjustments and continued investments in the physical infrastructure of the country.
Recently, Pakistan Cabinet approved the launch of Eurobond and sukuk to generate $3.5 billion during the current fiscal year. Islamabad aims to go for maximum fundraising due to low interest rates and the strong appetite of international investors.
According to the press statement, the other financial institution from the GCC that participated in the transaction include Gulf International Bank, The Arab Investment Company, Islamic Corporation for the Development of the Private Sector (ICD) and United Arab Bank.
“The phenomenal accomplishment endorses our reputation and distinguished position regionally and internationally. We constantly strive to strengthen and diversify our financial resources through strategic investments in developing economies while adapting to the current economic situation in the world markets. This Murabaha financing offers institutional investors the opportunity to participate in our success,” said Mohamed Amiri, CEO of Ajman Bank.
“This achievement is a prime example of our focus on providing financing solutions for cross-border counterparties, and will provide substantial benefits to both the issuer and the institutional investors,” said Dr Bernd van Linder, CEO of Commercial Bank of Dubai.
waheedabbas@khaleejtimes.com
The unseen photo was taken during their visit to India to promote their 2017 action movie 'xXx: Return of Xander Cage'
From exploring the Louvre Museum in Abu Dhabi to Easter brunches, there are several things to do in the UAE this weekend
The film is a tense thriller about a group of journalists documenting societal collapse
One song has a reference to the groundbreaking country performer who became the first Black woman to play the 'Grand Ole Opry'
The Oscar-nominated actress is no stranger to big-budget films
In the film, Tabu, Kareena, and Kriti are essaying the roles of daring and mischievous air hostesses
Having effortlessly transitioned into acting, Fouzia's debut film swiftly captured global acclaim, earning accolades at the prestigious Cannes Film Festival
Parag, who reached his 50 off 34 balls, cracked 25 runs with three fours and two sixes off the final over bowled by star South Africa paceman Anrich Nortje