Tagged: Musharaka

Eligibility of GoP Ijara Sukuk in Musharaka Pool

Eligibility of GoP Ijara Sukuk in Musharaka Pool

State Bank of Pakistan (SBP) has notified that now un-encumbered Government of Pakistan Ijara Sukuk may be included in the Musharaka Pool (MP), created under the Islamic Export Refinance Scheme (IERS). This inclusion will be subject to the several conditions. All Islamic Banking Institutions (IBIs) shall report Sukuk in MP under the sector heading of GoP Ijara Sukuk. IBIs shall maintain record of Sukuk issue included and the amount of that issue will be incorporated in the MP. The banks are advised to refer to SBP’s Islamic Export Refinance Scheme and other instructions issued from time to time. Other instructions on the subject remain unchanged,

Egypt farm bank launching retail Islamic services

Egypt farm bank launching retail Islamic services

Egypt’s Principal Bank for Development and Agricultural Credit (PBDAC) is launching sharia-compliant retail banking services this month to meet increasing demand in rural areas. According to Abdel Rahman Al Kafrawi, head of Islamic transactions at PBDA…

DFM invites experts’ views on sukuk

DFM invites experts’ views on sukuk

The draft of Dubai Financial Market’s ‘Standard for Issuing, Acquiring, Trading Sukuk’ has been published on DFM’s website. Numerous Islamic finance professionals have been invited to counsel and feedback on the comprehensive standard. The consultation…