Karachi September 27,2021: SBP has issued circular to all scheduled banks and DFI's operating in Pakistan regarding guidelines fro upcoming Ijara Sukuk Issue. SBP has further said that In accordance with provisions of the notification of GOP Ijara Sukuk Rules, 2008 (‘Annexure-A’), GIS will be issued as per the Structure and Assets described in ‘Annexure- B’.
The GIS auction details such as target amount, tenor, rental rate (variable or fixed) and auction schedule etc. will be announced by SBP on Refinitiv/Bloomberg SBPK pages. The details covering the structure, documentation and sample tender form (‘Annexure- C’ for Variable Rental Rate-and ‘Annexure- D’ Fixed Rental Rate GIS-) are enclosed for information.
A L S O || R E A D
The Assets: The underlying assets on which this structure can be used for issuance of GoP Ijarah Sukuk. These assets include the following:
M-1 (Islamabad - Peshawar): The highway land along with all constructions and improvements thereon the M1 (Islamabad-Peshawar),
M-4 (Pindi Bhatian - Faisalabad Motorway): The highway land along with all constructions and improvements thereon the M-4 (Pindi Bhatian – Faisalabad),
E-35 (Hassanabdal – Mansehra): The highway land along with all constructions and improvements thereon the E-35 (Hassanabdal – Mansehra) Motorway,