KARACHI: Standard Chartered Bank (Pakistan) Limited has been awarded the working capital banking mandate by EMAAR Pakistan, marking a significant development for Pakistan’s real estate and financial sectors.
The mandate positions Standard Chartered as EMAAR’s banking partner for its Karachi-based projects, enabling the bank to deliver a comprehensive suite of financial services ranging from working capital solutions to expanded mortgage facilities for both resident and non-resident Pakistanis.
The agreement was formalised at a signing ceremony attended by senior executives from both organisations. Saadya Riaz, Head of Wealth & Retail Banking at Standard Chartered Pakistan, and Aziz Jindani, Chief Executive Officer of EMAAR Pakistan, signed the mandate. Representing Standard Chartered were Arslan Nayeem, Head of Coverage Pakistan; Shada El Borno, Regional Head of Global Subsidiaries UAE, Middle East & Pakistan; and Motasim Iqbal, Regional Head of Corporate Sales for MEA & Pakistan. EMAAR Pakistan’s delegation included Chief Financial Officer Ali Baig and Senior Manager Finance Asim Khan.
Under the mandate, Standard Chartered will extend tailored mortgage financing solutions to Pakistani citizens seeking to invest in EMAAR’s premium residential and commercial developments. The offering is open to both resident and overseas Pakistanis and will provide access to upcoming real estate projects under the developer’s portfolio. This follows an earlier agreement between the two organisations this year to support EMAAR’s ongoing real estate ventures through working capital facilities.
EMAAR Pakistan CEO Aziz Jindani said the collaboration reflects the company’s commitment to strengthening the real estate sector and enhancing investor confidence. He noted that partnerships of this scale help reinforce transparency and credibility within the industry and support EMAAR’s goal of delivering transformative real estate developments that contribute meaningfully to Pakistan’s urban landscape.
Standard Chartered’s Saadya Riaz said the mandate reaffirms the bank’s ability to leverage its global network and longstanding client relationships.
Copyright Business Recorder, 2025
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