DUBAI, July 1 (Reuters) - UAE-based Ajman Bank arranged a syndicated financing of $275 million for the government of Pakistan in May, the bank said on Monday.
A number of banks participated in the one-year Islamic loan, which has a Murabaha structure and was solely arranged by Ajman Bank, it said in a statement.
The Pakistani government last month signed a $375 million syndicated loan with UAE banks which included conventional and Islamic tranches.
A murabaha is a cost-plus-profit arrangement which complies with Islamic finance standards. (Reporting by Saeed Azhar, editing by Davide Barbuscia)