LAHORE: ABHI, a growing embedded finance platform in the MENAP region, announces it has made history by issuing Islamic bonds worth PKR 2 billion ($ 7.1 million).

The bond issue is a significant milestone for both ABHI, and the region, as no other Fintech in the region has successfully achieved this before, said a company announcement here on Monday.

In 2022, ABHI was assigned a long-term instrument rating of “AA” and a short-term rating of “A1+” by PACRA - a first for a Non-Banking Financial Company (NBFC) in Pakistan. These ratings enabled ABHI to issue the Islamic bonds.

Omair Ansari, CEO and co-founder of ABHI, said: “We are honored to have the support of PACRA and all the investors to launch this first-of-a-kind Sukuk.

This is a testament to our team’s hard work and dedication, and our commitment to supporting businesses and their employees in Pakistan.”

Copyright Business Recorder, 2023