SBP Raises PKR 76.38 Billion through GOP Ijara Sukuk Issuance

In line with its revised auction schedule for Ijara Sukuk, the State Bank of Pakistan (SBP) held an auction for a five-year Variable Interest Rate Government of Pakistan (GOP) Ijara Sukuk and successfully raised PKR 76.384 billion.

The auction generated bids worth PKR 190.305 billion against an auction target of PKR 75 billion at a range margin for the bids between -250 and -75 basis points (bps).

Earlier on the 15th of April 2020, the GOP rejected all bids received for the auction of GOP Ijara Sukuk as it had reduced the policy rate by 200 basis points (bps).

This auction is the first of three auctions of a five-year GOP Ijarah Sukuk to raise PK...