Deal inked on wheat procurement financing to Punjab government

The consortium of three banks including two Islamic banks and Punjab Food Department have signed Rs 5 billion agreement according to which the consortium would provide Wheat Procurement Financing to Government of Punjab.
The signing ceremony for Wheat Procurement Financing to Government of Punjab was held recently in Lahore between Meezan Bank Limited, AlBaraka Islamic Bank and Bank of Punjab. This is the first time that Islamic Banks are taking part in Wheat Financing for the government and Meezan Bank Limited will finance a major share of Rs 3 billion in the consortium organised by Bank of Punjab.
The President of Bank of Punjab attended the signing ceremony along with the signatories of the Punjab Food Department and Senior Management of Meezan Bank Limited.