Govt purchases Rs46bn Ijara Sukuk on Bai Mujjal basis

MG News | August 05, 2024 at 09:46 PM GMT+05:00

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August 05, 2024 (MLN): The State Bank of Pakistan (SBP) conducted an auction on Monday for the outright purchase of Government of Pakistan Ijara Sukuk (GIS) on a deferred payment basis (Bai Muajjal), in which it purchased Rs46 billion.

The delivery date for the Sukuk is August 05, 2024.

SBP received bids worth Rs46bn 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 Rs170.39 to Rs173.35.

The cut-off price stood at Rs173.35.

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