Askari Bank Limited has achieved a historic milestone in Pakistan’s financial sector by successfully arranging the country’s first-ever unsecured, privately placed Commercial Paper worth PKR 2.5 billion for the Pakistan Microfinance Investment Company Limited (PMIC). The transaction marks a breakthrough in capital market innovation, strengthening efforts to mobilize funds for social impact and advancing women’s economic empowerment.
Serving as the Sole Mandated Lead Advisor and Arranger, Askari Bank played a pivotal role in structuring and executing this landmark deal. The initiative is not only a testament to the bank’s expertise in capital market advisory but also demonstrates its commitment to developing new financial instruments that serve the broader goals of inclusion and empowerment.
For PMIC, this Commercial Paper issuance represents a critical move to expand its resources and capacity to finance small and micro enterprises, particularly those led by women across Pakistan. By creating avenues for women entrepreneurs to access affordable financing, the initiative underscores a shared commitment between PMIC and Askari Bank to fostering inclusive growth and enabling marginalized communities to participate in the economy more effectively.
The successful completion of this deal was made possible through collaboration with a diverse group of stakeholders. Key investors included leading asset management companies such as MCB Funds, Alfalah Investments, JS Investments, National Investment Trust, NBP Funds, and Pak China Investment Company. Legal advisory was provided by Haidermota & Co (HMCO), while Pak-Brunei Investment Company acted as the Issue and Paying Agent. Additionally, VIS Credit Rating Company extended its support in rating the instrument, further enhancing investor confidence.
This groundbreaking transaction is a first-of-its-kind development in Pakistan’s capital market landscape, setting a precedent for future issuances of unsecured commercial papers. It reflects a growing confidence in alternative financing mechanisms that can channel liquidity towards high-impact sectors while diversifying investment opportunities for institutional investors.
Speaking on the achievement, Askari Bank’s leadership emphasized that the arrangement is part of the bank’s broader vision to offer innovative, client-focused solutions that respond to the evolving needs of the market. By leveraging its role as an arranger, the bank has facilitated an instrument that not only delivers financial returns to investors but also creates tangible social and economic benefits for communities across Pakistan.
The significance of this deal extends beyond finance, as it represents a strategic alignment of financial institutions, regulators, and investors toward building a sustainable ecosystem that empowers underserved segments of society. The emphasis on women-led businesses adds another dimension of impact, aligning with global and national priorities of gender inclusion and equitable growth.
By successfully structuring this transaction, Askari Bank has reinforced its position as a key innovator in Pakistan’s banking and finance sector. It has also set an example of how financial institutions can bridge the gap between capital markets and social development, unlocking new opportunities for both investors and entrepreneurs.
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