Pakistan Unveils First Agri-Infrastructure Sukuk at PSX Ceremony

Karachi: InfraZamin Pakistan, Sunridge Foods, and BankIslami marked a historic moment at the Pakistan Stock Exchange with the launch of the nation’s first PKR 2 billion Agri-Infrastructure Sukuk, a pioneering step in Shariah-compliant sustainable financing for the agricultural sector.

The Sukuk, fully subscribed by institutional investors, is secured by a 100% principal credit guarantee from InfraZamin Pakistan and carries a AAA rating, highlighting its robust financial backing. This initiative is poised to advance Sunridge Foods’ modernization projects, including renewable energy installations and expanded storage facilities, enhancing the country’s agricultural infrastructure.

Deputy British High Commissioner Lance Domm, the event’s Chief Guest, praised the Sukuk as a key move towards climate-resilient economic growth. He emphasized the UK’s commitment to supporting Pakistan’s financial ecosystem through such innovative partnerships.

Maheen Rahman, CEO of InfraZamin Pakistan, emphasized the transaction’s strategic importance in empowering the agriculture sector through sustainable financing solutions. Amir Shahzad of Sunridge Foods highlighted the operational and environmental benefits of the Sukuk, which will facilitate modernization and expansion efforts in food processing and storage.

BankIslami’s President, Rizwan Ata, underscored the role of Shariah-compliant finance in driving economic growth and sustainable development, while PSX Chairperson Dr. Shamshad Akhtar called for bold solutions to address climate vulnerability and food insecurity through financial innovation.

PSX CEO Farrukh Subzwari reaffirmed the exchange’s commitment to transforming the capital market into a platform for addressing structural economic challenges, advocating for deeper collaboration among financial stakeholders to sustain this momentum.

This landmark Sukuk issuance represents a collective vision to foster innovative financing avenues that support Pakistan’s sustainable infrastructure and agricultural development.