02/07/2019
DUBAI- UAE-based Ajman Bank arranged a syndicated financing of $275 million for the government of Pakistan in May, the bank said on Monday.
A number of banks participated in the one-year Islamic loan, which has a Murabaha structure and was solely arranged by Ajman Bank, it said in a statement.
The Pakistani government last month signed a $375 million syndicated loan with UAE banks which included conventional and Islamic tranches.
A murabaha is a cost-plus-profit arrangement which complies with Islamic finance standards.
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