Dubai Islamic bank willing to help Pakistan float sukuk bonds

DIB CEO expresses interest disinvestment process of public sector entities in Pakistan, promote Islamic banking.

ISLAMABAD: Dubai Islamic Bank (DIB) on Thursday expressed desire to help promote Islamic banking in Pakistan and was ready to assist in floating the country’s Sukuk bonds, and showed an interest in the upcoming disinvestment process of public sector entities.

This was expressed during a meeting between a DIB delegation and Finance Minister Senator Ishaq Dar in Dubai to discuss various avenues of co-operation between DIB and the Government of Pakistan.

DIB chief executive officer Dr Adnan Chilwan expressed the desire that DIB is keen to work closely with the Government of Pakistan particularly in the promotion of Islamic Banking in the country and was ready to assist in floating of Sukuk Bonds by Pakistan.

Dr Chilwan said that DIB was also eager to participate in the upcoming disinvestment of Public Sector Entities (PSE’s) in Pakistan and was ready to offer its financial and technical support to assist the Government of Pakistan.

Dar said the Pakistan was keen to promote Islamic Banking in the country and a Steering Committee to fast track the work on its promotion had recently been constitued.

The Finance Minister expressed the hope that Pakistan and DIB would work closely to achieve the fundamental objective of promoting Islamic Banking besides increasing cooperation to facilitate trade and investment in Pakistan.