The Ministry of Finance has clarified that Sukuk are Shariah-compliant borrowing instruments backed by physical assets and are structured so as to pay returns on investment as rent instead of interest by utilizing an underlying asset. A statement by the ministry read: “Sukuk are not only issued ...

ISLAMABAD - K-Electric is planning to issue Pakistan’s largest-ever retail-listed Sukuk worth Rs. 25 billion (including Rs.5 billion greenshoe option). The members of the Transaction Shariah Advisory Board signed the Shariah Pronouncement at the KE head office. Senior members of KE, HBL and ...

ISLAMABAD - Pakistan has paid back around $1 billion on maturity of five-year international Sukuk, reported a local english newspaper. This update comes around the same time as Moody’s, a credit rating agency, upgraded Pakistan’s credit rating outlook from ‘negative’ to ...

ISLAMABAD - In biggest ever listing of it's kind in Pakistan history, Rs 200 billion Energy Sukuk bonds listed in Pakistan Stock Exchange. Pakistan Stock Exchange (PSX) has approved the listing of Pakistan Energy Sukuk-1 of Rs. 200 billion of Power Holding Limited under its privately-placed debt ...

*KARACHI. **Pakistan government is all set to launch Sukuk Islamic bonds worth Rs 200 billion, media has reported.* The government of Pakistan is all set to raise debt worth Rs200 billion from Islamic banks next week to partially pay off dues of energy firms on account of circular debt as ...

ISLAMABAD - In order to resolve the country’s circular debt, the federal government has issued the first Pakistan Energy Sukuk of Rs200 billion. The Sukuk was issued through Power Holding Private Limited, a govt owned company, while Meezan Bank was appointed as the Shariah advisor of ...

ISLAMABAD - Economic Coordination Committee has approved to launch Islamic Sukuk bond amounting to 200 billion rupees for payment of circular debt. Its meeting chaired by Finance Minister Asad Umar was held in Islamabad on Tuesday. The bond will be issued through the consortium of Islamic ...

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 ...

ISLAMABAD - PTI government is mulling yet another option to recover the country out of the financial crisis. To finance the burgeoning power sector’s circular debt, the government is mulling to float 10-year privately placed sukuk bonds for raising Rs200 to Rs300 billion. Sources privy of ...

ISLAMABAD: Pakistan has successfully executed US $ 1.0 billion five years Sukuk and US $ 1.5 billion ten years Eurobond transactions at a profit rate of 5.625 per cent and 6.875 per cent respectively.The order book for Pakistan’s sovereign papers was over US $8 billion, however, the Government ...