Pakistan discusses reforms with MSCI, Deutsche Bank

Finance Minister Muhammad Aurangzeb met officials from MSCI and Deutsche Bank in Bangkok during the World Bank Group-IMF Annual Meetings 2026, Business Recorder reported. The talks covered Pakistan's capital market reforms, financing choices and investment outlook. At the MSCI session, which the State Bank of Pakistan governor also attended, the minister pointed to better economic indicators and wider stock market participation.

The MSCI discussion centred on the index provider's classification criteria and on foreign investors' worries over FX matters, prefunding, hedging and pooled vehicles. Participants also reviewed repatriation arrangements through Special Convertible Rupee Accounts (SCRAs), along with wider reach for Roshan Digital Accounts, and agreed on technical follow-up to tackle operational problems.

In a separate session with Deutsche Bank, Aurangzeb pointed to stronger macro conditions, higher reserves, better sovereign ratings and rising investor confidence. He also outlined the country's return to global debt markets, citing private placements as well as Panda and Eurobond deals. The minister said authorities are exploring other funding sources, such as Sukuk, dollar-settled rupee bonds and a possible tokenisation of Eurobonds. He thanked the bank for its long presence in Pakistan, encouraged more corporate engagement and foreign portfolio investment, and welcomed the bank's interest in strategic advisory work on privatisation, covering power distributors and major airports.