KARACHI: The central bank on Friday will acquire Rs111 billion Ijara Sukuk with a three-year maturity in a sell-off on Friday.
This acquisition of the government of Pakistan Ijara Sukuk would be done on Bai Muajjal basis, which is a Shariah-compliant equivalent of deferred payments from all Islamic Banks.
The acquisition of the issue by the central bank would assist Islamic Banks in coping with surplus liquidity and resources.
Rs314.3 billion worth of Ijara Sukuk would mature in December, February and March and Rs118 billion Ijara Sukuk were set for maturity on December 18th.