Dubai Islamic Bank and Novatex Ltd sign project financing agreement


Dubai Islamic Bank Pakistan Limited (DIBPL), a wholly-owned subsidiary of Dubai Islamic Bank UAE, world’s first Islamic Bank and Novatex Limited, industry leader in PET Resin and Plastic Products have entered into a project financing agreement amounting to PKR 1,000 Million for expansion of the PET Resin Plant at Novatex. Abdul Razak Diwan (CEO of Novatex Limited), Junaid Ahmed (CEO of DIBPL) and senior Directors of the Group including Peer Mohammad Diwan, Iqbal Bilwani, Rizwan Diwan and Shabbir Diwan were present at the occasion along with Senior Management of DIBPL. The event was also attended by DIBPL’s Director Naved A. Khan.