Strong Bond

Southasia - - BRIEFINGS -

sold its Sukuk pa­pers at a profit rate of 6.75 per­cent, rais­ing $1 bil­lion from the in­ter­na­tional Is­lamic bond mar­ket. Ac­cord­ing to an of­fi­cial state­ment, Pak­istan suc­cess­fully re­turned to the in­ter­na­tional Is­lamic bond mar­ket with the is­suance of U.S. dol­lar-de­nom­i­nated Sukuk notes. The last in­ter­na­tional Sukuk was is­sued nine years ago.

IN­DIA| New Delhi

The deal re­duced Pak­istan’s do­mes­tic debt by Rs.102 bil­lion and its an­nual debt-ser­vic­ing cost by Rs.5 bil­lion for five years. The gov­ern­ment re­ceived a sub­scrip­tion of $2.3 bil­lion, which was nearly five times the tar­geted amount. The of­fers came from di­verse re­gions of the world. About 35 per­cent sub­scrip­tion came from Europe, 32 per­cent from the Mid­dle East, 20 per­cent from North Amer­ica and 13 per­cent from Asia. The Sukuk

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