With its one billion dollars Sukuk bond issue, Pakistan has again entered the international Islamic bond market after a two- year gap. The Pakistan government had floated 5- year Sukuk bonds in 2014 at 6.75 per cent and raised one billion dollars. In 2015, a 10- year Eurobond was issued at 8.25 per cent, racking up $ 500 million. Through the issue of 5- year Sukuk bonds in September 2016, the government plans to raise one billion dollars at the rate of 5.5 percent. About 38 per cent of the bids have already been received from European countries.