The Pakistan Stock Exchange (PSX) is set to conduct its 12th auction of Government Ijarah Sukuk on August 15th, aiming to raise a substantial amount of Rs. 100 billion.
The Sukuk will be issued for various maturities, including 1-year, 3-year, and 5-year fixed and variable rate options. The government aims to raise Rs. 20 billion through the 1-year Sukuk, while the 3-year and 5-year Sukuk will reopen previous issues with varying rental rates.
Meezan Bank Limited, Dubai Islamic Bank (Pakistan) Limited, Bank Islami Pakistan Limited, and Bank Alfalah Limited will serve as joint financial and Shariah advisors for the Sukuk auction.
The Sukuk will have a face value of Rs. 5,000, and investors can place bids for multiples of this amount. Individuals, institutions, trusts, funds, and various corporate bodies, including banks, non-banking finance companies, and insurance companies, are eligible to participate in the auction.
The government has successfully raised nearly Rs. 700 billion through Sukuk auctions since the beginning of 2023, demonstrating strong investor interest in these Shariah-compliant instruments.