Pakistan’s Two Largest Banks to Invest $800 Million in Neelum-Jhehlum Hydropower Project

Pakistan’s two largest commercial banks, the National Bank of Pakistan (NBP) and Habib Bank Limited (HBL), are buying $800 million USD worth of Sukuk bonds (Sharia-compliant bonds) for the 969-megawatt Neelum-Jhelum Hydropower Project, a bank official told OOSKAnews this week.“The National Bank of Pakistan would purchase $400 million USD Sukuk in the Neelum-Jhelum Hydropower Project, and Habib Bank Limited would also buy $400 million USD in bonds for the mega hydro project,” said Syed Ibne Hasan, chief corporate communications officer at NBP.The NBP and HBL are among the five Pakistani commercial banks expected to provice financial arrangements for the project...