Second advisory & arrangement mandate

PMIC successfully closed its second advisory & arrangement mandate for Khushhali Micro Finance Bank Limited (KMBL). KMBL has issued unsecured, subordinated, privately placed, Tier II Term Finance Certificates of PKR 600 Mn, where entire amount is provided by PMIC. This financing facility aims to support growth in lending operations of KMBL and contribute towards bank’s additional Tier II Capital for strengthening Capital Requirement and Capital Adequacy Ratio (CAR) prescribed by SBP for Microfinance Banks. The investor agreement was signed by Mr. Yasir Ashfaq, Chief Executive Officer PMIC and Mr. Ghalib Nishtar, President & Chief Executive Officer KMBL.