Pakistan signs $375 million syndicated loan with UAE banks

Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development, and Tariq Bajwa, former Governor of the State Bank of Pakistan, sign an agreement to formalize a $3 billion deposit into an SBP account on January 22, 2019. (Photo courtesy: ADFD)
Updated 29 June 2019

Pakistan signs $375 million syndicated loan with UAE banks

  • Tranches were fully subscribed by a syndicate of leading UAE banks
  • Emirates NBD Capital Limited is a global coordinator

DUBAI: Pakistan signed a $375 million syndicated loan with banks in the United Arab Emirates in June made up of conventional and Islamic banking tranches, the Pakistani government said on Saturday.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
Emirates NBD Capital Limited was global coordinator.
The transaction was anchored and arranged by Commercial Bank of Dubai, Emirates NBD Bank, Noor Bank , Dubai Islamic Bank, Mashreqbank and Sharjah Islamic Bank.


Pakistan army denies reports of joint border patrols with Iran

Updated 09 December 2019

Pakistan army denies reports of joint border patrols with Iran

  • Patrolling operations on respective sides are conducted by respective forces, military spokesman says
  • Last month, army chief visited Tehran for security talks

ISLAMABAD: Pakistan army spokesperson on Monday rejected media reports suggesting that Pakistani and Iranian security forces conducted joint border patrolling.
“News published by Dawn today ('Pak-Iran Forces jointly conduct border patrolling') is factually incorrect,” Director-General Inter-Services Public Relations (ISPR), Maj. Gen. Asif Ghafoor, said in a tweet.
He added that “there is no joint patrolling anywhere on Pakistani borders” as “patrolling operations if required are always on respective sides by respective forces through coordination.”

The English-language daily reported earlier on the day that Pakistan and Iran had conducted another joint patrol on the border near Taftan town in Chagai district, Balochistan.
Soon after Ghafoor's comment, Dawn's editor Zaffar Abbas clarified that “the confusion was caused by the official news agency APP, as the picture caption said ‘joint patrolling.’ Radio Pak also tweeted the same. But we will be carrying out correction in light of your statement.”

Border security has long been a major cause of distrust in Pakistan-Iran relations. 
In April, Iranian President Hassan Rouhani announced that the two countries would form a joint quick-reaction force to combat militant activity on their shared border, following a deadly attack on Pakistani security personnel on the coastal highway in southwestern Balochistan, where 14 soldiers lost their lives.
On Nov. 18, Pakistan army chief General Qamar Javed Bajwa visited Tehran for security talks with Iran's political leadership and military leadership.
In May this year, Pakistan began the fencing of certain areas along the 950-kilometer border it shares with Iran.