Government of Pakistan Ijara Sukuk

Ijarah sukuks are securities representing the ownership of well-defined existing and well-known assets that are tied up to a lease contract. Ijarah sukuks can be traded in the market at a price determined by market forces

Salient Features

Issuer: Government of Pakistan
Coupon: 3 Years (Fixed & Floating Instrument)
Tenor: semi-annual rental (Linked to weighted average 6 month T-Bill)
Denominations: Multiple of 100,000 Pak rupees
Withholding Tax: Deducted at source (as per government regulations)
Sale of Bills: Through designated Primary Dealers
Redemption: Sukuk shall not be redeemable before maturity
Tradable: Sukuk are script less & traded freely in the Secondary Market and are transferable.
Custodianship Ijara Sukuk’s are script less instruments, client’s holding are held in the Investor Portfolio Services (IPS) Account managed through Subsidiary General Ledger Accounts with banks.