SECP moves to make corporate Sukuk faster, cheaper, simpler

August 10, 2026 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has issued “A Practical Guide and Toolkit for Corporate Issuers” to standardize Sukuk structures and documentation, making corporate Sukuk issuance simpler, faster and more cost effective.

The initiative is in line with the Ministry of Finance’s direction to deepen Pakistan’s corporate debt market and aims to enable more companies to raise Shariah-compliant financing through the capital market.

During the last fiscal year, 72 Sukuk issuances raised around Rs307 billion, showing the growing significance of Islamic financing in Pakistan’s capital market.

The guidebook provides a step-by-step explanation of the Sukuk issuance process, covering regulatory requirements, standardized structures, model transaction flows, sample applications and illustrative legal documents.

The SECP said the standardized Sukuk structures are expected to reduce legal and structuring complexities, transaction costs and issuance timelines, particularly for first-time issuers.

The guidebook was developed through the SECP’s regulatory experience and consultations with its Shariah Advisory Committee, industry experts, legal practitioners and market participants.

The initiative also addresses a key recommendation of the Corporate Debt Market Survey regarding the need for standardized Sukuk structures and documentation.

The SECP expects the initiative to broaden financing options for companies and support the development of Pakistan’s corporate debt and Islamic capital markets.

Corporate Sukuk are an important avenue for companies to obtain Shariah-compliant financing from the capital market.

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