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Pakistan has officially broken new ground with the launch of its maiden PKR 2 billion Shariah-compliant Agri-Infrastructure Sukuk, formally unveiled at a ceremonial gong-strike at the Pakistan Stock Exchange. The innovative instrument, initiated by InfraZamin Pakistan, Sunridge Foods, and BankIslami is fully subscribed by institutional investors and carries a long-term AAA rating from VIS Credit Rating Company, backed by a 100 % principal guarantee from InfraZamin.
Structured for impact, the Sukuk will finance Sunridge Foods’ Balancing, Modernisation, and Replacement (BMR) projects, comprising the installation of 1 MW of wind and 0.5 MW of solar capacity, and expansion of silos and warehouses to enhance staple-food processing in Karachi and Lahore. It also supports critical working capital for wheat and rice production units, signalling a climate-resilient and food-secure infrastructure strategy.
BankIslami Pakistan served as Mandated Lead Arranger, with AKD Securities advising, Al-Hilal overseeing Shariah compliance, and Pak-Brunei Investment Company acting as trustee. Deputy British High Commissioner Lance Domm lauded the initiative for mobilizing private, climate-friendly capital towards agricultural development
This landmark Sukuk not only represents a milestone in Islamic finance innovation but also offers a replicable model for integrating private investment into Pakistan’s sustainable agricultural ecosystem.
