Saudi meet-up: Pakistan will issue Islamic bonds, says Dar

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Pakistan Economy, Pak-Saudi Relations,
ISLAMABAD: Finance Minister Ishaq Dar has said that the country will issue an Islamic bond denominated in dollars for Islamic banking institutions and funds, while meeting the Saudi Arabia Ambassador Dr Abdul Aziz Al Ghadeer.

Dar said the country has been successful in putting the economy on a stable growth trajectory through prudent macro-economic management.

“These measures have resulted in restoring investors’ confidence in the Pakistani economy which has also helped in oversubscription of Euro bonds,” said Dar.

In the largest-ever single transaction, Pakistan was able to raise $2 billion from international debt markets through the issuance of five- and 10-year dollar-denominated Euro bonds.

Meanwhile, the Saudi ambassador too showed confidence in Pakistan, stressing that the Nawaz Sharif-led government has attached importance to the country’s economy.

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