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Pakistan to target $1bn from Islamic bond

ISLAMABAD: Pakistan is looking to raise $1 billion from an Islamic bond denominated in US dollars and plans to finalize arrangers within two weeks, according to a finance ministry official.

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The government has shortlisted four banks to arrange the Islamic bond, or sukuk, and plans to launch the deal as early as September, the official said.

Pakistan raised $2 billion from a two-part global bond in April, its first after an absence of seven years.-Reuters

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