Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, held a series of meetings in Washington, DC, aimed at deepening economic cooperation and advancing Pakistan’s digital and financial agenda.
Senator Aurangzeb met with Dr Adnan Chilwan, Group CEO of Dubai Islamic Bank (DIB), and appreciated DIB’s continued partnership as the leading global arranger of Pakistan’s sovereign Sukuk.
The finance minister highlighted the recent Staff Level Agreement (SLA) with the International Monetary Fund (IMF) and ratings upgrades by international agencies as indicators of Pakistan’s strengthening economic outlook.
He also informed the CEO about the ongoing privatisation of the First Women Bank and Pakistan’s focus on diversifying funding across USD, Panda, and Sukuk markets, expressing confidence in maintaining strong engagement with DIB.
The minister also met with the management of Sharjah Islamic Bank and Ajman Bank, thanking them for their participation in the recent syndication and support for Pakistan’s financial initiatives.
Aurangzeb briefed the management on the government’s plan to issue its inaugural Panda Bond in the Chinese market and advised close coordination with the Debt Management Office (DMO) to explore further areas of cooperation.
In a meeting with Dr Hajar El Haddaoui, Director General of the Digital Cooperation Organisation (DCO), Senator Aurangzeb discussed Pakistan’s ongoing digital transformation journey, emphasising information technology, payment rails, and digitisation of government payments.
The FinMin welcomed DCO’s expansion in Pakistan and stressed the importance of capacity building, skills development, and inclusive digital frameworks.
Finally, Senator Aurangzeb met with the Currency Exchange Fund (TCX) delegation, led by Chief Investment Officer and Deputy CEO Othman Boukrami.
The country’s top economic manager, briefed on TCX’s operations in providing local currency financing solutions and informed the team about Pakistan’s plans to extend debt maturities and access international capital markets through Panda Bonds, Eurobonds, and International Sukuk.
The finance czar assured the TCX team of a detailed follow-up on submitted proposals to enhance future cooperation.
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