Aurangzeb discusses Sukuk, Panda bonds with Standard Chartered

Finance Minister Muhammad Aurangzeb has discussed potential Sukuk issuance, further Panda bonds and other financing options with Standard Chartered Bank (SCB) to support Pakistan’s external financing needs and infrastructure investment.

The meeting, held on the sidelines of the World Bank Group-IMF Annual Meetings 2026 in Bangkok, Thailand, also covered reserve management, refinery upgrades and financing cooperation. Governor of the State Bank of Pakistan (SBP) accompanied the finance minister.

According to the Finance Division, Aurangzeb appreciated SCB’s support in bridging Pakistan’s external financing gaps and facilitating the country’s return to international capital markets.

He also highlighted potential refinery upgrades and welcomed follow-up proposals through the relevant ministries.

The discussions covered prospective Sukuk, rupee-denominated and dollar-settled bonds, additional Panda bonds and possible tokenisation initiatives. Participants also explored gold-backed liquidity arrangements and energy-price hedging, with an emphasis on simple structures and competitive costs.

Aurangzeb welcomed SCB’s proposed additional deposit products for overseas Pakistanis and financing against rupee-denominated securities or cash.

The meeting also examined multilateral guarantees and export-credit financing for priority infrastructure projects, including power transmission, railways and roads.

The discussions focused on exploring financing instruments and investment arrangements to support Pakistan’s external financing requirements and infrastructure development.