PKR 55.5 Billion Islamic Facility Availed By PNSC

Mohsin Tayebaly & Co. acted as transaction legal counsel with respect to an Islamic finance facility, structured as a procurement Musharaka in the aggregate amount of up to approximately PKR 55,497,000,000/- (Pak Rupees Fifty Five Billion Four Hundred and Ninety Seven Million), availed by Pakistan National Shipping Corporation (PNSC) from: (i) Faysal Bank Limited; (ii) MCB Bank Limited; (iii) Askari Bank Limited; (iv) Allied Bank Limited; and (iv) Habib Bank Limited for the purpose of financing the acquisition of 4 oil tankers.

This landmark transaction is testament to MTC’s long-standing relationships with Islamic financiers throughout Pakistan and we are proud to continue advising on transactions that facilitate the growth of state-owned entities.

The firm’s scope of work included full-scope financier-side advisory.

MTC’s team in this matter was led by Vaseeq Khalid (Partner) and included Kamil Tayebaly (Senior Associate), Aisha Ahmer (Associate) and Zain Ansari (Associate).