PAKISTAN: The government of Pakistan plans to engage a consortium of Islamic finance institutions for the issuance of Sukuk Ijarah, green Sukuk and other Shariah compliant instruments in the domestic market, according to an official statement.
The selected consortium is expected to guide, advise, manage, coordinate and execute the whole range of activities associated with the structuring and issuance of the different Sukuk facilities in the domestic capital market.
The engagement of the consortium shall be initially for a period of five years, which is extendable through consent of all parties and subject to the satisfactory performance of consortium members.