Euromoney innovations in Islamic finance 2016: Islamic Republic of Pakistan

$100 million Islamic structured club facility

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Lead arrangers: Noor Bank, Standard Chartered

This deal was structurally clever, ground-breaking and enormously encouraging for Pakistan. But the real reason it wins this award is what it says about Islamic liquidity and how quickly it can be mobilized if needed.

Pakistan has a more positive outlook than it once did. It has conducted a successful programme with the IMF, it has completed...