Faysal Bank Limited (FBL) has announced a new strategic partnership with the International Finance Corporation (IFC), a member of the World Bank Group, under IFC’s Global Trade Finance Program (GTFP). This collaboration aims to explore the establishment of a trade finance guarantee facility for FBL, enhancing its trade finance capabilities to meet the growing needs of its clients.

The facility will enable FBL to offer expanded trade-related services, helping local businesses engage more securely in international trade. By leveraging IFC’s expertise, this initiative also aims to drive growth in Pakistan’s trade sector.

The partnership was formalized at a signing ceremony on September 25, 2024, attended by Mr. Khawaja Aftab Ahmed, IFC’s Regional Director for the Middle East, Pakistan, & Afghanistan, and Mr. Yousaf Hussain, President & CEO of FBL. Mr. Hussain expressed his appreciation for IFC’s ongoing support in Pakistan, highlighting that this collaboration will enhance FBL’s trade financing capacity and foster a broader strategic engagement with IFC.

Since 2005, IFC’s GTFP has committed $6.6 billion in Pakistan, including $1.4 billion in FY23, positioning the country as a key market for the program. This partnership reflects FBL’s commitment to expanding its international trade services and providing Shariah-compliant solutions for its clients’ evolving needs.