Read more about IIFL Home Finance and Standarad Chartered enter into co-lending arrangement for MSMEs on Business Standard. Under this partnership, IIFL Home Finance and the Standard Chartered Bank will co-originate these loans and the IIFL Home Finance will service the customers through the entire loan life-cycle including sourcing, documentation, collection and loan
Govt raises Rs760 billion from domestic sukuk market in 2020
Business
January 7, 2021
KARACHI: The government raised more than Rs760 billion from the domestic sukuk market with Islamic banks still having enough liquidity to fill in the fiscal gap, The News learnt on Wednesday.
Issuance of the government of Pakistan Ijara sukuk based on variable and fixed rental rates amounted to Rs561 billion last year. Two hundred billion rupees was generated through Pakistan Energy Sukuk II, bringing the total from statutory liquidity ratio-eligible sukuk or Islamic bonds up to Rs761 billion (approximately $4.7 billion).
Higher issuance activity during the year can be attributed to the growing demand for the shariah-compliant financial services and the government’s efforts to promote Islamic finance and banking, bankers said.