PAKISTAN: The State Bank of Pakistan has announced that the country’s scheduled banks have invested in 89% of government Sukuk.
Sukuk Ijarah held by the scheduled banks; defined under the State Bank of Pakistan Act 1956 as a banking company as defined in section 227F of the Companies Act 193, or a cooperative bank, or a corporation or company incorporated by or established under an law in force in or outside Pakistan and has paid-up capital and reserves of at least PKR500,000 (US$5,516.92), amounted to PKR2.7 trillion (US$29.78 billion) as at the end of December last year.