State Bank of Pakistan (SBP) Thursday conducted another Open Market Operation (OMO) for outright purchase (Bai Muajjal) of Government of Pakistan Ijara Sukuk (GIS) and accepted bids amounting to Rs 20.3 billion. Bids were invited on December 18, 2014 and the IBI aggressively participated in the OMO as overall, SBP received 7 offers amounting to Rs 20.3 billion for 12-month period with price ranging from Rs 112.6243 to Rs 112.7149, while no bids were received for 6-month tenor.
The SBP accepted all offers at a deferred price of Rs 112.7149. As per transaction modalities for OMOs for GoP Ijara Sukuk announced by SBP, all Islamic banks and conventional banks having Islamic branches were eligible to participate in the OMO.
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