Pakistan just reached a major milestone in sustainable infrastructure. InfraZamin Pakistan, Infralectric, and leading national banks launched the country’s first-ever Green Sukuk for the telecom sector.
The ‘AAA’ rated Sukuk is worth PKR 3 billion. Furthermore, investors have already oversubscribed the transaction. InfraZamin Pakistan guarantees 100% of the principal amount. Meanwhile, Infralectric Private Limited (a Brillanz Group company) issued the Sukuk. Dubai Islamic Bank (DIB) Pakistan Limited led the arrangement. Bank Alfalah joined as the Joint Lead Bank, and Meezan Bank acted as the Imports Bank.
Other vital partners supported the transaction. BankIslami served as the Investment Agent. Al Hilal acted as the Shariah Advisor, PACRA as the Rating Agency, and Pakistan Environment Trust as the Green Bond Consultant. Legal counsel included Ahmed & Qazi and HP | FKM. Finally, major investors featured DIB PF, DIB GF, Alfalah Asset Management, and NBP Fund Management.
Green Sukuk: Powering Telecom Sites with Solar & AI
Pakistan’s telecom sector currently serves nearly 190 million mobile subscribers. Consequently, the industry operates over 50,000 tower sites nationwide. However, many sites rely heavily on weak-grid or off-grid power. Therefore, telecom companies heavily depend on expensive diesel generators. This reliance drives up operating costs and significantly increases carbon emissions.
To solve this problem, Infralectric will use the Sukuk proceeds to deploy clean energy. Specifically, the company will install lithium-ion Battery Energy Storage Systems (BESS) and solar PV solutions. Additionally, they will integrate Artificial Intelligence optimization and remote monitoring across approximately 1,955 telecom tower sites.
Driving Economic & Environmental Impact
This energy transition directly cuts diesel dependence. Consequently, it lowers operational costs and improves network reliability. Moreover, the project will reduce carbon emissions and ease the national fuel import bill, actively relieving forex pressure.
Additionally, the initiative creates hundreds of direct and indirect jobs. These roles span installation, maintenance, local manufacturing, remote monitoring, and technical field operations. Ultimately, the transaction advances multiple Sustainable Development Goals. These include Affordable and Clean Energy, Industry Innovation and Infrastructure, Climate Action, and Partnerships for the Goals.
Industry Leaders Champion Green Finance
Key executives praised the landmark agreement. Maheen Rahman, CEO of InfraZamin Pakistan, stated that innovative credit enhancement successfully unlocks capital markets for green infrastructure. Similarly, Bilal Qureshi, Group CEO of Brillanz Group, noted that private capital accelerates the energy transition and builds a resilient, AI-enabled network.
Muhammad Ali Gulfaraz, CEO of DIB Pakistan, emphasized how Islamic capital markets effectively bridge critical infrastructure needs with climate-conscious investments. Furthermore, Atif Bajwa, President and CEO of Bank Alfalah, highlighted the active mobilization of private sector investment into responsible environmental projects. Finally, Syed Tanveer Hussain, COO of Wholesale Banking at Meezan Bank, added that InfraZamin’s financial guarantee deeply enhances investor confidence and broadens market participation.
