Issuance of Rs. 200 bn Sukuk bonds a landmark financial innovation: PM

Issuance of Rs. 200 bn Sukuk bonds a landmark financial innovation: PM
Islamabad: Prime Minister Imran Khan has said that the issuance of with Rs. 200 bn Sukuk bonds through competitive book building at Pakistan Stock Exchange (PSX) is a landmark financial innovation.

Taking to twitter, PM wrote that the move reflects a strong market confidence in his government’s policies.

He added that government was able to save Rs. 18 billion that can now be used for welfare of the people.

“Landmark financial innovation with Rs 200 bn Sukuk issued through competitive book building at PSX. Oversubscribed by 170%, reflecting a strong market confidence in our Govt's policies. As a result govt saved Rs18 billion - savings that can now be used for welfare of the people,” PM wrote.

 

It is noteworthy that for the first time in history of Pakistan, the government has issued Sukuk bonds.