Pakistan signs $375 million syndicated loan with UAE banks

Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, and Tariq Bajwa, former Governor of the State Bank of Pakistan, sign an agreement to formalize a $3 billion deposit into an SBP account on January 22, 2019. (Photo courtesy: ADFD)
Updated 29 June 2019
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Pakistan signs $375 million syndicated loan with UAE banks

  • Tranches were fully subscribed by a syndicate of leading UAE banks
  • Emirates NBD Capital Limited is a global coordinator

DUBAI: Pakistan signed a $375 million syndicated loan with banks in the United Arab Emirates in June made up of conventional and Islamic banking tranches, the Pakistani government said on Saturday.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
Emirates NBD Capital Limited was global coordinator.
The transaction was anchored and arranged by Commercial Bank of Dubai, Emirates NBD Bank, Noor Bank , Dubai Islamic Bank, Mashreqbank and Sharjah Islamic Bank.


Pakistan organizes second phase of Hajj training for 2026 pilgrims in Islamabad

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Pakistan organizes second phase of Hajj training for 2026 pilgrims in Islamabad

  • Training sessions held to inform pilgrims of various stages of Hajj, precautionary measures, obligatory acts, says state media 
  • Pilgrims told to improve their physical fitness, keep essential travel documents and vaccination cards ready ahead of Hajj 2026

ISLAMABAD: Pakistan’s Ministry of Religious Affairs organized the second phase of Hajj training for 2026 pilgrims in Islamabad today, Sunday, state media reported. 

Pakistan’s religion ministry kicked off the first phase of the mandatory Hajj trainings last Sunday in Islamabad and other cities. The ministry said the trainings were made mandatory to ensure that intending pilgrims are fully aware of Hajj rituals and administrative procedures. 

“Ministry of Religious Affairs and Interfaith Harmony organized second phase of Hajj training session for pilgrims in Islamabad today,” state broadcaster Radio Pakistan reported. 

It said the primary objective of the program was to provide awareness about the various stages of the pilgrimage, necessary precautionary measures and the obligatory acts of both Hajj and Umrah.

“Pilgrims were advised to improve their physical fitness by walking 2 to 3 kilometers daily and keep essential travel documents including original passport, CNIC, flight ticket, visa copies and vaccination cards ready,” the state media said. 

Intending pilgrims were strictly warned against carrying prohibited items such as narcotics, naswar (smokeless tobacco), cigarettes and unverified medicines.

Saudi Arabia has allocated Pakistan a quota of 179,210 pilgrims for Hajj 2026, of which around 118,000 seats have been reserved under the government scheme while the remainder will be allocated to private tour operators.

Under Pakistan’s Hajj scheme, the estimated cost of the government package ranges from Rs1,150,000 to Rs1,250,000 ($4,049.93 to $4,236), subject to final agreements with service providers.