Pakistan Stock Exchange hits PKR 1 trillion mark in Islamic bond sales

The Pakistan Stock Exchange (PSX) has reached a major milestone by selling Islamic bonds known as Government of Pakistan Ijarah Sukuk (GIS) worth over PKR 1 trillion.

This achievement came after the 13th GIS auction on September 16, 2024, which raised an additional PKR 207 billion for the Ministry of Finance, a statement noted

The GIS auctions began on December 8, 2023, and have seen strong participation from banks, mutual funds, and brokers.

PSX has played a key role by providing a modern auction system and supporting the entire lifecycle of the Sukuk, from issuance to maturity.

PSX stands out globally as one of the few exchanges offering primary issuance of government debt. It helps the government raise funds through various Sukuk types, including Discounted, Fixed Rate, and Variable Rate instruments, with tenors ranging from 1 to 10 years.

Besides a strong primary market, PSX also supports a vibrant secondary market, aiming to boost liquidity and market depth. This aligns with PSX’s goal of market development and increased investor participation.