The Bank of Punjab on Monday formally declared financial closure of its consortium for Wheat Commodity Operations Financing to Government of Punjab for the year 2016-17 under the auspices of its President Naeem-ud-Din Khan. The consortium deal has been finalised at Rs 152.625 billion, increased from Rs 132.761 billion as inked in 2015-16, with the participation of the Bank of Punjab, Bank Al-Habib Ltd, Bank Alfalah Ltd, Askari Bank Ltd, Faysal Bank Ltd, Habib Metropolitan Bank Ltd, First Women Bank Ltd and Punjab Provincial Co-operative Bank Ltd, through their conventional/Islamic Windows.
The Bank of Punjab has been organising consortium financing since 2003.-PR