Government of Pakistan to purchase GOP Ijara Sukuk on Bai Mujjal Basis

By MG News | June 24, 2020 at 06:45 PM GMT+05:00

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June 24, 2020 (MLN): The State Bank of Pakistan (SBP) issued an auction tender notice for the purchase of GOP Ijara Sukuk by the Government of Pakistan on deferred payment (Bai Mujjal Basis) from all Islamic banks & Islamic banking branches.

This is in accordance with SBP-DMMD Circular #18 dated Oct 22, 2015.

The instrument in question is the third fixed rental rate ijara sukuk (GIS-FRR-03) that was issued for three years on June 30, 2017.

The target amount for the auction is Rs.67 billion and Bai Mujjal Maturity date is June 23, 2023.

The auction will be conducted on Thursday June 25, 2020 and the result will be annnounced on the same date.

Furthermore, SBP pointed out that, bids can be rejected without assigning any reason.

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