ABHI becomes MENAP's first fintech to issue Islamic bonds.

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

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.

Demand for the Sukuk exceeded expectations, with subscriptions reaching twice the anticipated amount due to ABHI's strong credit ratings, creditworthiness and profitability.

Sukuk, or Islamic bond, is a financial instrument complying with Islamic law. They are structured in a way ensuring Shariah compliance : meaning they are based on Islamic principles. This makes them attractive to investors who want to support businesses align with their Islamic values. ABHI's successful issuance of Sukuk is a significant achievement for the company, and the broader financial industry in...