Sharjah Islamic Bank is ready to take part in a planned Pakistani sukuk issuance, Pakistan’s Finance Division said on Saturday, after Finance Minister Muhammad Aurangzeb met the bank and two other UAE lenders in Bangkok.
Aurangzeb held separate meetings with delegations from Sharjah Islamic Bank, Abu Dhabi Commercial Bank (ADCB) and Ajman Bank on October 17, on the sidelines of the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group.
With Sharjah Islamic Bank, the talks covered a prospective sukuk, rupee-denominated dollar-settled instruments, further Panda bond issuance and a possible tokenization of Eurobonds. The bank reaffirmed its support for Pakistan and said it was ready to participate in a sukuk issuance, the Finance Division said.
The ministry did not give a size or a timetable for the sukuk.
ADCB expressed interest in several transactions, including restored credit limits for Pakistan, participation in financing from the International Islamic Trade Finance Corporation (ITFC), financing backed by the Multilateral Investment Guarantee Agency (MIGA) and a Diversified Payment Rights deal supported by the International Finance Corporation (IFC), Pakistan’s Press Information Department said.
The minister and the ADCB delegation also discussed data center financing and digital finance. Aurangzeb pointed to investment openings in refinery upgrades, privatization, airport outsourcing, electricity transmission and the ML-1 railway project. Follow-up will be coordinated through the Debt Management Office in Pakistan’s Ministry of Finance.
The Ajman Bank meeting covered prospective sukuk issuances, rupee-denominated dollar-settled instruments and diversifying Pakistan’s funding sources. Aurangzeb welcomed the bank’s interest in advising on and participating in future financing transactions.
Across the three meetings, the minister said Pakistan wants to replace expensive short-term borrowing, extend debt maturities and avoid bunched repayments without increasing its overall external debt, Profit by Pakistan Today reported.
The talks also reviewed the economic impact of the regional conflict and energy security.
