International Islamic Trade Finance Corporation (ITFC) Signs Landmark US$513 Million Syndicated Murabaha Financing with the Government of Pakistan to Support Energy Imports
The International Islamic Trade Finance Corporation (ITFC) (www.ITFC-IDB.org), a member of the Islamic Development Bank (IsDB) Group, signed a US$513 million Syndicated Murabaha Financing Facility with the Islamic Republic of Pakistan, represented by the Ministry of Economic Affairs, to support the country’s critical energy sector needs.
The signing ceremony was witnessed by H.E. Dr. Muhammad Al-Jasser, President of the Islamic Development Bank (IsDB), and the agreement was signed by Eng. Adeeb Yousuf Al-Aama, CEO of ITFC, and Hon. Dr. Kazim Niaz, Federal Secretary for Economic Affairs, on behalf of the Government of Pakistan.
This milestone facility marks the largest syndicated financing arranged by ITFC for Pakistan over the last three years, reaching US$513 million, which was significantly oversubscribed, with the final amount raised being more than double the initial target, reflecting strong interest and confidence from investors. The proceeds of the financing will be used for the import of crude oil, petroleum products, and liquefied natural gas (LNG) to meet Pakistan’s energy needs.
This milestone facility stands as the largest syndicated operation led by ITFC for Pakistan in recent years, with the final amount raised being more than double the initial target, underscoring the strong confidence and demand from the market.
On this occasion, Eng. Adeeb Y. Al-Aama, CEO of ITFC, stated: “This syndicated financing is a clear vote of confidence by the market in both the ITFC capabilities and Pakistan’s economic trajectory. It demonstrates the growing trust of our financing partners and ITFC’s steadfast commitment to supporting energy security in Pakistan. Since 2008, our strategic partnership with the Government of Pakistan has resulted in the approval of more than US$8.1 billion in trade finance, reflecting our longstanding commitment to the country’s economic growth. This agreement represents a continuation in that partnership, as we remain dedicated to mobilizing Shari’ah-compliant resources that support Pakistan’s development priorities and strengthen its trade resilience.”
Commenting on the signing, Hon. Dr. Kazim Niaz, Federal Secretary for Economic Affairs, added that “This significant financing from the International Islamic Trade Finance Corporation (ITFC) underscores the growing confidence of international capital markets and development partners in Pakistan’s economic trajectory. We are witnessing positive trends in our macroeconomic indicators, reflecting the resilient efforts towards economic recovery and stability. This facility will further bolster our trade capabilities and contribute to sustained growth. Pakistan remains committed to fostering an environment conducive to robust partnerships and enhanced economic cooperation. The Government of Pakistan is grateful for the continuous support extended by the ITFC”.
This latest financing reflects ITFC’s continued efforts to provide impactful, Shari’ah-compliant trade solutions that address the urgent needs of member countries. By supporting Pakistan’s energy sector, the facility contributes to broader goals of economic stability, sustainable development, and enhanced trade integration across the OIC region.
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the International Islamic Trade Finance Corporation (ITFC):
The International Islamic Trade Finance Corporation (ITFC) is the trade finance arm of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries’ needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market.
