April 24, 2025 (MLN): The State Bank of Pakistan (SBP) has issued an auction tender notice for the outright purchase of Government of Pakistan Ijara Sukuk (GIS VRR-18) on a Bai Muajjal basis, with a targeted amount of Rs76 billion.
Focusing on Shariah-compliant financial instruments to meet fiscal requirements, the auction is set to take place on April 28, 2025.
The tender is open to Islamic banks and Islamic banking branches, in line with the provisions of SBP-DMMD Circular No. 18 issued on October 22, 2015.
The auction will feature two tenors for the GIS VRR-18 Sukuk:
One-Year Bai Muajjal Tenor: Maturity Date – April 28, 2026 (365 days).
Three-Year Bai Muajjal Tenor: Maturity Date – April 28, 2028 (1,096 days).
Bids must be submitted by 12:00 PM on April 28, 2025, with the opening of tenders and communication of results also scheduled for the same day.
Participating Islamic Banking Institutions (IBIs) will receive specific bid submission details through email.
