Lahore December 7 2023: The mandate for Pakistan's First Local Currency Green Sukuk was recently awarded by Agha Steel Industries Limited to the Bank of Punjab (BoP).
This event not only represents a significant leap in the Pakistani capital market landscape but also marks the frist time a leading domestic corporate has embarked on fund-raising throuhg the local currency green sukuk route.
The Green Sukuk shall be issued in confirmation with the applicable regulations and guidelines of the Securities & Exchange Commission of Pakistan (SECP) and International Capital Market Association's (ICMA) Green Bond Principles 2018, as applicable. With the goal of attracting environmently consious investors, this pioneering Sukuk will tap into unconventional markets while providing investors with a lucrative Islamic Investment avenue.
The Bank of Punjab takes pride in leading the way as the Mandated Lead Advisor & Arranger for this ground-breaking endeavor, paving the path for future sustainable investments in Pakistan.
The mandate award ceremony was graced with the presence of senior representatives from Agha Steel Industries Limited and The sank of Punjab, including Mr_ Hussah Agha (CEO: ASIL): Mr_ Ahmed Ateeq (Deputy CEO, ASIL): Mr_ Farid Ahmed Khan (Group Chief — Corporate & investment Banking, BOP), Mr. Mateen Farooq (Head Capital Markets: Syndications & Equity Advisory: BOP) and Mr_ Ali Afzal (Head Corporate Banking — South, BOP), along with other senior team members from both sides.