MTC Advising on Pakistan’s First-ever Diversified Payment Rights Issuance

Mohsin Tayebaly & Co. is advising the International Finance Corporation (“IFC”) in connection with its proposed investment of up to US$100 million in Pakistan’s first-ever Diversified Payment Rights (“DPR”) programme to be established by Bank Alfalah Limited.

This marks an important development for Pakistan’s financial market, paving the way for local banks to raise foreign-currency funding from international capital markets through the offshore securitization of DPRs. The transaction builds on MTC’s earlier work advising IFC on the development of the legal and regulatory framework for DPR/future-flow securitizations in Pakistan, in collaboration with the State Bank of Pakistan. This is the first DPR/future-flow securitization under that framework.

The MTC team advising on the transaction is led by Hamza Shaikh, Partner, and includes Haya Iftikhar, Managing Associate.

We congratulate IFC, Bank Alfalah and all stakeholders involved on this significant milestone!

IFC press release: https://www.ifc.org/en/pressroom/2026/ifc-and-bank-alfalah-partner-on-pakistan-s-first-diversified-payment-rights-issuan