The State Bank of Pakistan (SBP) said yesterday that another Government of Pakistan (GoP) Ijara Sukuk would be issued as per the transaction structure in accordance with provisions of Ijara Sukuk Rules, 2008.
The SBP, in a circular, said as per transaction mechanism, profit on the Sukuk would be based on Rental rate benchmarked against the latest weighted average yield of the six month Market Treasury Bills or six month PKRV (as per FSCD circular 13 of September 6, 2008).
The rental rate may be adjusted based on the difference between estimated supplementary rental and actual maintenance expenses of the underlying asset.
