Pakistan government decision to auction in Islamic bonds

KARACHI: The Government of Pakistan has announced plans to auction Islamic bonds through the Pakistan Stock Exchange, raising a substantial Rs 400 billion. The auctions are scheduled for January 24, February 21, and March 20.

The offering includes Rs 100 billion worth of one-year Islamic bonds, along with fixed-rate bonds totaling Rs 150 billion for 3 and 5 years.

Additionally, floating-rate Islamic bonds amounting to Rs 150 billion will be available with tenures of 3 and 5 years.

The move aims to diversify funding sources and attract investment while adhering to Islamic finance principles.

The Pakistan Stock Exchange anticipates significant market participation during these auctions.

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