Saudi and Pakistani Investors Sign MoU to Establish Joint Private Equity Fund
Proposed fund will begin with several hundred million dollars, with equal contributions from both countries and investments focused primarily on Pakistan.
Mr. Naif Abdul Aziz Al Harbi, Commercial Attaché, Embassy of the Kingdom of Saudi Arabia, Mr. Bassam Sulaiman Al Eyari, Secretary, SPJBC, Barrister Engr Habil Ahmed Khan, CEO, WELT Konnect, Mr. Zafar Masud, President & CEO, Bank of Punjab, H.H Prince Mansour bin Mohammad Al Saud, Chairman of the SPJBC, Mr. Yousaf Hussain, President & CEO, Faysal Bank Limited; Eng. Mohammed Al Mufarij, CEO, Saudi Meters Company, Mr. Shahid Ali Habib, CEO, Arif Habib Limited, Mr. Kashif Habib, CEO, Power Cement Limited Mr. Abdul Aziz Al Ashrafi, Vice Chairman, SPJBC, Mr. Arif Habib, Chairman, Arif Habib Group, Mr. Mohammed Abdulaziz Al Ajlan, Vice Chairman, SPJBC, Mr. Nassir Saleem, President & CEO, Habib Bank Limited, Mr. Zaid Al Shareef, Director, Al Shareef Holdings
The Saudi–Pakistan Joint Business Council (SPJBC) has signed a Memorandum of Understanding (MoU) to establish the Saudi–Pakistan Private Equity Fund. The initiative aims to strengthen bilateral investment and expand private-sector cooperation between the two countries.
Representatives of Saudi Arabia and Pakistan attended the signing. Fawad Mukhtar, SPJBC Co-Chair and Chairman of Fatima Group, joined virtually from the Pakistani side.
Other Pakistani participants included Zafar Masud, President and CEO of the Bank of Punjab; Muhammad Nassir Salim, President and CEO of Habib Bank Limited; Yousaf Hussain, President and CEO of Faysal Bank Limited; and Maqsood Ismail, Director of Ismail Industries Limited.
Dr Gohar Ejaz, Chairman of Lake City Group; Lord Zameer Choudrey, Chairman of Bestway Group; and Jawaid Iqbal, President and CEO of United Bank Limited, also joined virtually.
The Saudi delegation included His Highness Prince Mansour bin Mohammad Al Saud, SPJBC Chairman, and the council’s two vice-chairmen, Mohammad bin Abdulaziz Al Ajlan, CEO of Al Ajlan Group, and Abdulaziz bin Ali Al Ashrafi of Tayba Group.
Other Saudi participants represented businesses and investment organisations across several sectors. They included Dr Mohammed Khan of RAEM Group, Zaid Al Sharif of Alsharif Group, Mohammed Al Mufarij of Saudi Meters Company, Dr Mohammed Al-Sowaidan of International Investment Gare, Abdallah Al Muhnna of SAFA Investment, Abdulrahman Ayedh Algahtani of Somuo Investment, Hani Baothman of Bin Dawood Investment, Ghassan Amoudi of ASYAD Group and Feras Albakri of Albakri Group.
Barrister Habil Ahmed Khan, CEO of Welt Konnect, and Mansour Chaudhry, CEO of Barq Pakistan, also attended.
Equal Investment Contributions and Cross-Border Opportunities
The fund emerged from a series of meetings held by the Saudi–Pakistan Joint Business Council. The proposed initial size is several hundred million dollars, with plans to expand as investment opportunities develop.
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Private investors from Saudi Arabia and Pakistan will contribute equally. The proposed allocation will direct 75% of the fund towards projects in Pakistan and 25% towards projects in Saudi Arabia.
The fund intends to target high-growth private businesses in agriculture, mining and industry, including construction.
It will also explore commercial opportunities linked to the Government of Pakistan’s programme to monetise its land assets. Potential areas include airports, motorway development, ports and maritime infrastructure.
The initiative aims to unlock the economic potential of underutilised public land through commercially structured and transparent investments.
In Saudi Arabia, the fund will explore commercial opportunities across the Kingdom, including projects in its holy cities.
The MoU also allows institutions from both countries to participate in the equity of the fund management company.
Saudi Council Chairman Highlights Longstanding Partnership
Speaking at the signing, SPJBC Chairman Prince Mansour bin Mohammad Al Saud highlighted the longstanding relationship between Saudi Arabia and Pakistan.
He said the proposed fund would give their longstanding friendship a stronger commercial foundation.
Prince Mansour described Pakistan as a natural partner for Saudi Arabia. He also pointed to investment opportunities emerging from Pakistan’s economic environment.
He said investors from both countries would work together to turn years of discussions and studies into practical investments.
The initiative, he added, aims to create lasting benefits for both countries and their people.
Arif Habib Calls Fund a Vote of Confidence in Pakistan
Business leader Arif Habib described the proposed fund as a vote of confidence in Pakistan’s investment opportunities.
He said Pakistani investors were contributing alongside Saudi partners, reflecting their commitment to the country’s economy.
Habib also highlighted the potential of government land monetisation to convert underutilised assets into productive investments.
He thanked Prince Mansour and the council members for their efforts in developing the initiative. He said the fund could help strengthen confidence among Saudi and other international investors.
Regulatory Approvals to Guide Next Steps
The Saudi–Pakistan Joint Business Council was established by the governments of Saudi Arabia and Pakistan, in coordination with their respective high-level committees. Its mandate is to deepen trade and investment cooperation between the two countries’ private sectors.
The latest MoU marks a further step in bilateral economic engagement. However, the fund’s establishment and operations remain subject to regulatory requirements in both countries.
Once the relevant approvals are secured, the two sides will proceed with the fund’s structure and initial investments.
