The most recent development in Pakistan's financial sector is United Bank Limited's (UBL) execution of a PKR 20 billion Interest Rate Swap (IRS) with Engro, a leading conglomerate in Pakistan. This transaction, reported by Profit by Pakistan Today on February 15, 2026, underscores UBL's leadership in the derivatives market following its earlier PKR 75 billion IRS with Mobilink, the largest in the country's history. UBL's President & CEO, Muhammad Jawaid Iqbal, emphasized that this new transaction "reflects enhanced participation from the financial market," showcasing the growing corporate confidence in sophisticated treasury solutions. Engro's CEO, Abdul Samad Dawood, highlighted the importance of this partnership for managing interest rate exposure and maintaining shareholder trust. This deal is part of a broader trend of increasing sophistication in Pakistan's financial markets, with UBL playing a pivotal role in providing innovative risk management solutions.