Pakistan Raises PKR 2 Trillion Via Government Ijara Sukuk to Date 

Pakistan Raises PKR 2 Trillion Via Government Ijara Sukuk to Date 

https://islamicmarkets.com/articles/pakistan-raises-pkr-2-trillion-via-government-ijara-sukuk-to
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The government of Pakistan has raised PKR 2 trillion (USD 9.3 billion) to date through the issuance of Government Ijara Sukuk (GIS), since its first offering in 2008.

Why it Matters?

Pakistan has witnessed a shift towards the use of Sukuk instead of interest-based government bonds to raise funds as they were found to save billions for national coffers and significantly reduce government debt, while enabling the use of underlying assets repeatedly over time as needed. The country had raised up to PKR 936 billion (USD 4.3 billion) in funds through GIS issues from 2008 to 2017, before experiencing a 2-year halt after which, issues resumed in an increased manner to cross PKR 1 trillion (USD 4.6 billion) in offerings since 2020. GIS are raised against vario...