Askari Bank Limited has achieved a landmark milestone in Pakistan’s debt capital market by advising and arranging Sukuks worth PKR 100 billion across a wide range of industries. This achievement was marked during a meeting between Askari Bank’s President and CEO, Mr. Zia Ijaz, and the Chairperson of the Securities and Exchange Commission of Pakistan (SECP), Mr. Akif Saeed. The collaboration underscores the critical role of Islamic finance in broadening the country’s investment landscape and meeting the growing demand for Shariah-compliant financial instruments.
The Sukuks arranged by Askari Bank span across key sectors including textile, sugar, fertilizer, steel, confectionery, and most notably, telecom. By covering such a diverse range of industries, Askari Bank has demonstrated its ability to not only innovate within the Islamic finance space but also support corporate growth through alternative financing solutions. The achievement reflects the institution’s focus on capital market development and its ambition to deepen the role of Sukuks as an essential funding instrument in Pakistan’s financial ecosystem.
During the meeting, SECP Chairperson Akif Saeed commended Askari Bank’s efforts and leadership in promoting Shariah-compliant financing solutions. He stressed that Sukuks are emerging as a cornerstone of the Islamic capital market in Pakistan, offering companies an attractive financing mechanism while also providing investors with stable, compliant investment opportunities.
The SECP chief also highlighted the regulator’s ongoing digitization initiatives, which are designed to enhance transparency, efficiency, and ease of doing business across the financial sector. These digitization efforts complement the growth being seen in the Sukuk space by streamlining processes, reducing inefficiencies, and creating an environment where market participants can engage more effectively. According to the SECP, such measures are central to building investor confidence and promoting sustainable growth within the capital market.
Askari Bank’s achievement comes at a time when Pakistan’s financial system is under increasing pressure to develop innovative funding mechanisms that can support industries and promote economic stability. By successfully arranging Sukuks worth PKR 100 billion, the bank has positioned itself at the forefront of Islamic finance and capital market development. This accomplishment not only highlights its advisory strength but also reinforces its role in mobilizing resources for strategic sectors of the economy.
Industry experts believe that with the combination of regulatory digitization initiatives and financial institutions’ growing expertise in Islamic financing, Pakistan is moving toward a more modern, inclusive, and resilient financial ecosystem. Sukuks, as a Shariah-compliant alternative to conventional debt, are expected to gain further traction, offering long-term benefits for businesses, investors, and the overall economy.
Askari Bank’s contribution, acknowledged by the SECP Chairperson, signals a strong alignment between financial institutions and regulators in building momentum toward deeper financial inclusion and capital market innovation. The convergence of advisory excellence, Shariah-compliant products, and digital transformation points to a future where Pakistan’s capital markets are more transparent, diversified, and accessible.
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