The State Bank of Pakistan has announced first profit coupon rate of 3-year Government of Pakistan Ijara Sukuk (GIS-1), which would be 13.1376 percent on all accepted bids and would be paid on March 26, 2009. The central bank has accepted bids worth Rs 6.5225 billion for the sale of 3-year Government of Pakistan Ijara Sukuk on September 15.
The SBP has informed that as per the rules, the maturity period of the first Sukuk issue will be for three years from the date of issue. The profit on the Sukuk will be paid semi-annually on the basis of rental rate announced by the State Bank prior to start of each half year.