Jazz secures landmark credit facility to enhance 4G network, promote digital inclusion nationwide
Summary
ISLAMABAD, Jul 20 (APP):Jazz, Pakistans leading digital operator has successfully secured the largest private sector syndicated credit facility, totalling up to Rs. Aamir Ibrahim, CEO of Jazz, remarked, By investing in cutting-edge digital infrastructure, we are committed to bridging the digital divide and promoting financial inclusion across the nation.This transaction reflects the financial communitys trust in Jazzs solid market reputation and our leadership on the digital front. It is a crucial step toward ensuring that all Pakistanis, regardless of location, gender, or socioeconomic status, can harness the transformative power of the internet and digital services.Zafar Masud, President & CEO of The Bank of Punjab, stated, Leading this landmark transaction in the telecom sector exemplifies our strategic focus on digital transformation in Pakistan.Our partnership with Jazz underscores BoPs dedication to advancing technological progress and supporting the growth of the telecom industry. This deal is a testament to our commitment to driving innovation and fostering economic development in the country.In June 2021, Jazz secured a Rs. 15 billion Sukuk led by Askari Bank Limited, marking a milestone as the first-ever and largest short-term unsecured Sukuk by a telecom operator in Pakistan, which won global accreditations from Euromoney Islamic Finance Awards and Asian Banking & Finance, and is expected to boost the use of Shariah-compliant financial instruments within Pakistans capital markets.