Islamabad 22 July: In a landmark development for Islamic finance and sustainable agriculture, InfraZamin Pakistan, Sunridge Foods (Pvt) Limited, and Bank Islami Pakistan have jointly launched the country’s first-ever agri-infrastructure Sukuk at the Pakistan Stock Exchange (PSX).
Valued at Rs 2 billion and fully subscribed, the Shariah-compliant bond marks a major step toward climate-resilient financing in the agricultural sector. The Sukuk is backed by a 100% principal credit guarantee from InfraZamin Pakistan and has received a top-tier AAA long-term rating from VIS Credit Rating Company.
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Proceeds from the issuance will finance Sunridge Foods’ Balancing, Modernisation, and Replacement (BMR) projects, including the installation of a 1 MW wind turbine and a 0.5 MW solar plant—initiatives aimed at reducing the company’s carbon footprint and modernizing agro-infrastructure.
