Pakistan launches Shariah-compliant sovereign domestic green sukuk
Pakistan has launched its first sovereign domestic green sukuk worth 30 billion Pakistani rupees at the Pakistan Stock Exchange (PSX), marking a significant step in the country’s efforts to expand sustainable, Shariah-compliant financing.
Finance Minister Muhammad Aurangzeb, addressing the launch event via video link, stated that the issuance increases the share of Sukuk-based debt to approximately 14% of Pakistan’s total domestic debt, which currently stands at 37 trillion rupees.
Structured under Ijarah and issued through the sustainable investment sukuk framework, the three-year green sukuk features a variable rental rate and will be listed and tradable on the Pakistan Stock Exchange (PSX).
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Muhammad Ali Bandial