Engro secures $475 million Islamic financing for telecom infrastructure expansion

Engro has secured $475 million (Rs133 billion) in financing, fully structured through Islamic banking, to expand its telecom infrastructure. The funding will enable the addition of Deodar and its 10,000+ telecom towers to Engro’s portfolio, supporting the company’s focus on digital transformation.

State Bank Governor Jameel Ahmad praised the successful collaboration and emphasized the importance of telecom connectivity for financial inclusion. He also acknowledged the efforts of Engro’s leadership, particularly Hussain Dawood and his family, for their commitment to securing the funding through Islamic banking channels.

This financing deal further aligns with Pakistan's ongoing transition towards an Islamic banking system, highlighting Engro's role in this process while strengthening its telecom sector presence.