Govt purchases Rs19bn Ijara Sukuk on Bai Mujjal basis

MG News | July 11, 2024 at 09:20 PM GMT+05:00

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July 11, 2024 (MPN): The State Bank of Pakistan (SBP) conducted an auction on Thursday for the outright purchase of Government of Pakistan Ijara Sukuk (GIS) on a deferred payment basis (Bai Muajjal), in which it purchased Rs19 billion.

SBP received bids worth Rs23bn for the sale of GIS Variable Rental Rate 35 (GIS-VRR 35), which reflects the total value of GIS that participants were willing to sell.

Meanwhile, the price at which they were prepared to sell on a deferred basis to the government stood in the range of Rs175.41 to Rs175.68.

The cut-off price stood at Rs175.41.

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