BankIslami Pakistan – an Islamic Bank based in Karachi - wins Asian impact initiative of the year for its pioneering work with sustainable sukuks. Sukuks are Islamic financial certificates that mirror bonds in Western finance but adhere to Sharia principles. Unlike traditional interest-bearing bonds, sukuks involve selling certificates to investors, who then gain partial ownership in an asset purchased with those funds.

Pakistan's first Agri-infrastructure Sukuk was arranged by BankIslami Pakistan in July 2025 with a 100% credit guarantee provided by the infrastructure credit enhancement guarantee company, InfraZamin Pakistan. The funds have been used to advance the company's balancing, modernisation, and replacement (BMR) projects, focused on upgrading production facilities with sustainable and energy-efficient technologies.

Key components of the BMR include the installation of 1 MW wind turbines and a 0.5 MW solar power plant to bolster renewable energy efforts, combined with the construction of new silos and warehouses to substantially expand agricultural produce storage capacity. The proceeds provide working capital support for critical wheat and rice processing plants in Karachi and Lahore, facilitating increased production of essential staple food items.