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 - 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 ...

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's federal cabinet has approved borrowing of up to $3 billion via a Eurobond and sukuk, but the government would "most likely" raise only $1.5 billion, a senior Pakistani government official told Reuters on Tuesday.Pakistan is likely to split the fund raising equally between the ...

ISLAMABAD: To raise $2b via Euro and Sukuk bonds for easing balance of payments position, the government has decided to appoint two syndicates of financial advisors.Financial bids for the Euro and Sukuk bonds were opened on Tuesday, reported Express Tribune. For the eurobond group of financial ...

ISLAMABAD (APP): Minister for Finance, Revenue, Statistics and Economic Affairs Division Ishaq Dar Thursday said issuance of Sukuk bonds will not add to debt burden rather it will enhance foreign exchange reserves and improve import bill duration.Pakistan issues $1 billion Sukuk Bond in ...