Pakistan GMTN Programme: Banks Picked for $2bn Bond Drive

PAKISTAN – (Special Correspondent/Web Desk) – Pakistan has taken a big step toward raising money from world markets. The government has chosen top international banks to guide its Pakistan GMTN programme. This plan will help the country collect funds through both regular bonds and Islamic bonds. Officials say the Pakistan $2 billion bond issuance 2026 target is now moving forward with real structure and support.

The finance ministry ran a full review process before picking these banks. It followed clear rules laid out in its request for proposals. After careful checks, three separate bank groups were named. Each group will handle a different type of bond deal.

One group will manage regular bonds, known as Eurobonds. This team includes Standard Chartered Bank, Citibank, Deutsche Bank, Emirates NBD Capital, and MUFG Securities Asia. Some of these names are working with Pakistan for the very first time.

Another group will handle Islamic bonds, called Sukuk. This is where Mashreq Bank Pakistan Sukuk support becomes important. Mashreq Bank joins Standard Chartered, Dubai Islamic Bank, Citibank, and Emirates NBD Capital in this effort. Mashreq Bank is also new to this kind of deal with Pakistan, which shows growing trust from foreign lenders.

A third small group will manage a special bond type. This bond is priced in Pakistani rupees but settled in US dollars. Standard Chartered, Citibank, and Deutsche Bank will lead this task.

Finance Minister Muhammad Aurangzeb held an online meeting to mark this new phase. He spoke with senior bank leaders while in Washington. This meeting was seen as the formal start of teamwork between Pakistan and these banks.

The minister’s team said this is not just a single deal. It is part of a longer plan. The goal is to build steady and safe ways for Pakistan to borrow money from outside the country. Officials want this system to work smoothly for years, not just once.

Once paperwork and legal steps are done, Pakistan plans to use these bond tools often. The country wants a reliable and mixed funding path. This means it will not depend on just one bond type or one market.

The choice of MUFG Securities Asia and Mashreq Bank shows Pakistan is opening doors to new partners. Both banks are respected names in Asia and the Middle East. Their entry may bring fresh confidence from investors watching Pakistan’s economy.

Experts believe this move could support Pakistan’s foreign reserves. Steady bond income may also help balance the country’s trade gap. It shows lenders still see value in working with Pakistan, even during tough economic times.

The Pakistan GMTN programme covers both conventional and Sharia-compliant paths. This dual approach lets more investors take part, since Islamic finance rules differ from standard bond rules. It also widens Pakistan’s reach to Gulf investors who prefer Sukuk-based deals.

As the country works toward its $2 billion goal, more details are expected soon. Bond pricing, timing, and investor demand will shape the next steps. For now, the appointment of these banking teams marks a strong start to Pakistan’s 2026 borrowing plan.