ISLAMABAD – Finance Minister Asad Umar on Thursday chaired meeting ofsenior representatives of different Islamic Banks on matters pertaining tolaunch of Islamic Sukuk by the government (PHPL).
The meeting discussed the launching of Sharia compliant bonds to ease outliquidity of power sector.
The consortium will coordinate with the government for the launch of thebonds. Most of the work has already been done except for minor irritantsthat will be removed soon, sources said.
During the meeting representatives of the Islamic banks apprised themeeting about the progress for the subject launch. They also informed thatmost of spade work had already been completed and there were minorirritants left to be removed.
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The finance minister appreciated the increasing role of Islamic Banks inthe overall banking sector and their potential for providing strength toeconomy.
He assured the delegation of all out support from the government for theplanned launch of Islamic Sukuk which aims to generate sufficient financesto ease out liquidity of the power sector.
