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Engro has finalized $475 million in Islamic financing to expand its telecom infrastructure, adding Deodar and over 10,000 towers to its portfolio. The move strengthens Pakistan’s digital transformation while aligning with the country’s shift toward Islamic banking
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Engro Corporation has announced a landmark $475 million (Rs133 billion) financing package, fully structured through Islamic banking, to accelerate its telecom infrastructure expansion. The funds will support the integration of Deodar and its 10,000-plus towers into Engro’s portfolio, reinforcing the company’s commitment to digital transformation and nationwide connectivity.
State Bank Governor Jameel Ahmad hailed the achievement, stressing that improved telecom access is vital for financial inclusion and economic growth. He commended Engro’s leadership, particularly Hussain Dawood and his family, for steering the financing through Islamic banking channels, a move that underscores Pakistan’s broader transition toward Shariah-compliant financial systems.
The deal positions Engro as a key player in advancing telecom infrastructure while simultaneously strengthening the Islamic finance ecosystem. Industry analysts view the financing as a strategic step that not only enhances Engro’s market presence but also supports Pakistan’s ambition to modernize its digital economy through inclusive, faith-based financial practices.
