The inaugural hybrid sukuk combines two Shariah-compliant structures: an Ijarah Sale and Lease Back (Ijarah SLB) and a Commodity Murabaha, with 55% of proceeds allocated to Ijarah and 45% to Murabaha. The issuance was oversubscribed by 1.45 times, with total bids exceeding Rs200 billion, indicating strong investor interest. The auction included a one-year fixed-rate discounted sukuk and a 10-year variable rental rate sukuk, with cut-off rental rates set at 11.8000% and 11.7185%, respectively.
BUSINESSPublished 17 Apr 2026 • Published 4 days ago
Pakistan Raises Rs109.3 Billion Through Hybrid Sukuk Issuance
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On April 16, 2026, Pakistan successfully raised Rs109.297 billion through its inaugural hybrid sukuk issuance, marking a significant advancement in the country's Islamic finance market. The issuance, conducted by the Ministry of Finance in collaboration with various financial institutions, is expected to broaden investor participation and diversify the Shariah-compliant debt market.
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