Pakistan International Airlines Corporation (PIA) has closed a $100 million Shari’a compliant financing facility. The facility was arranged by Abu Dhabi Islamic Bank, Al Hilal Bank, Citibank N.A., and United Bank Limited as mandated lead arrangers and joint bookrunners. Warba Bank in Kuwait joined as lead arranger and Citibank N.A. is also performing the role of the account bank and security trustee. The three-year facility will be used for PIA’s general corporate purposes and reflect investor confidence in the airline and its strategic importance to Pakistan.