Pakistan, July 10 -- Dubai Islamic Bank (DIB), the largest bank in the UAE, has finalised a syndicated term finance facility deal worth $1 billion with the Government of Pakistan. The facility was arranged in collaboration with a consortium of regional and international financial institutions, read a statement on Wednesday.

The five-year facility is partially guaranteed by a Policy-Based Guarantee (PBG) from the Asian Development Bank (ADB) - marking the first PBG transaction of its kind undertaken by ADB for the country.

The Islamic tranche, structured as an AAOIFI-compliant Commodity Murabaha, represents approximately 89% of the total facility, which reflects the growing demand for Shariah-based financing and supports Pakistan's strat...