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Tuesday, January 21, 2025

Home Islamic Govt to raise Rs225b through Ijara Sukuk auction

Govt to raise Rs225b through Ijara Sukuk auction

by News desk
April 17, 2020
in Islamic

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KARACHI

The government is set to raise Rs225 billion through the auction of five-year Islamic bond, a move that could stimulate trading in Shariahcompliant debt securities and help plug budget gap amid spread of COVID-19 in the country, the central bank stated recently. The State Bank of Pakistan (SBP) has issued the auction calendar for issuance of government of Pakistan sovereign Sukuk based on Ijarah against Jinnah International Airport Terminal for five years. Pre-auction target is set at Rs75 billion for April, while similar amounts are set for May and June 2020.—Agencies