Pakistan Completes PKR 46.44 Billion Ijara Sukuk Issuance with 5 Year Tenure 

The government of Pakistan has announced the successful issuance of 5 years tenured PKR 46.44 billion (USD 210 million) Ijarah Sukuk in a new series in October 2022, against assets of the National Highway Authority (NHA).

Why it Matters?

The Finance Ministry has saved millions of rupees in financial costs through successfully raising money from the Islamic banking market using Sukuk at a rate that is 100 basis points, which is less expensive than alternative traditional methods. As the nation moves toward conversion to a Shariah-compliant financial and banking system, this will aid the government in moving away from interest-based borrowing and assist the expansion of Islamic banking and halal investment options for the general people.

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