{"id":63542,"date":"2020-04-02T16:57:18","date_gmt":"2020-04-02T11:57:18","guid":{"rendered":"https:\/\/www.zameen.com\/news\/?p=63542"},"modified":"2020-04-02T17:12:32","modified_gmt":"2020-04-02T12:12:32","slug":"govt-approves-pkr-700b-sukuk-bond-againstjinnah-airport-generate-funds","status":"publish","type":"post","link":"https:\/\/www.zameen.com\/news\/govt-approves-pkr-700b-sukuk-bond-againstjinnah-airport-generate-funds.html","title":{"rendered":"Govt approves PKR 700b sukuk bond against Jinnah Airport to generate funds"},"content":{"rendered":"\n<p>Islamabad: The federal government has approved PKR 700 billion Ijarah Sukuk (Sharia-compliant bonds) against the Jinnah International Airport for three years \u2014 for the purpose of funds generation, a news source reported.<\/p>\n\n\n\n<p><strong>Read: <\/strong><a href=\"https:\/\/www.zameen.com\/news\/identification-33000-needy-families-islamabad-begins-amidst-tightening-lockdown-situation.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Identification of 33,000 needy families in Islamabad begins amidst tightening lockdown situation (opens in a new tab)\">Identification of 33,000 needy families in Islamabad begins amidst tightening lockdown situation<\/a><\/p>\n\n\n\n<p>As per the publication, the <em>Sukuk<\/em> is expected to generate funds in the coming days for the country\u2019s budget.&nbsp; The cabinet decided to pledge land in possession of Karachi\u2019s Jinnah Airport as the warranty to introduce the <em>Sukuk<\/em>. The Jinnah Airport owns 1,500 acres of land, with a market value of PKR 750 billion. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/bahria-town-islamabad-dha-lahore-launch-disinfection-drive.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Bahria Town Islamabad, DHA Lahore launch disinfection drive to contain coronavirus spread (opens in a new tab)\">Bahria Town Islamabad, DHA Lahore launch disinfection drive to contain coronavirus spread<\/a><\/p>\n\n\n\n<p>The State Bank of Pakistan (SBP) will design the exercises and modalities in this regard, and Meezan Bank, Alfalah Islamic Bank, and Dubai Islamic Bank will make up the Joint Financial Advisors for the Government of Pakistan (GOP) <em>Sukuk<\/em> Programme. <\/p>\n\n\n\n<p><strong>Read:<\/strong> <a href=\"https:\/\/www.zameen.com\/news\/four-ration-warehouses-provide-food-essentials-needy-islamabad.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Four ration warehouses to provide food essentials to needy in Islamabad (opens in a new tab)\">Four ration warehouses to provide food essentials to needy in Islamabad<\/a><\/p>\n\n\n\n<p>Previously, the government raised PKR 300 billion of <em>Sukuk<\/em> against Jinnah Airport in three issues until November 2019. It is expected that <em>Sukuk<\/em> would assist the Islamic Banks with excessive unused liquidity, and would appear positively on the balance sheets.<\/p>\n\n\n\n<p>Read: <a href=\"https:\/\/www.zameen.com\/news\/eighteen-islamabad-implements-social-distancing.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Eighteen Islamabad implements social distancing, encourages people to use digital mediums for interaction (opens in a new tab)\">Eighteen Islamabad implements social distancing, encourages people to use digital mediums for interaction<\/a><\/p>\n\n\n\n<p>The <em>Sukuk<\/em> was initially planned for December\/January but got delayed. Recently, the outbreak of the <a href=\"https:\/\/www.zameen.com\/news\/fbr-mulls-downwards-target-revision.html\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"novel coronavirus  (opens in a new tab)\">novel coronavirus <\/a>in the country increased the need for more funds.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Islamabad: The federal government has approved PKR 700 billion Ijarah Sukuk (Sharia-compliant bonds) against the Jinnah International Airport for three years \u2014 for the purpose of funds generation, a news source reported. Read: Identification of 33,000 needy families in Islamabad begins amidst tightening lockdown situation As per the publication, the Sukuk is expected to generate funds in the coming days for the country\u2019s budget.&nbsp; The cabinet decided to pledge land in possession of Karachi\u2019s Jinnah Airport as the warranty to introduce the Sukuk. The Jinnah Airport owns 1,500 acres of land, with a market value of PKR 750 billion. Read: Bahria Town Islamabad, DHA Lahore launch disinfection drive to contain coronavirus spread The State Bank of Pakistan (SBP) will design the exercises and modalities in this regard, and Meezan Bank, Alfalah Islamic Bank, and Dubai Islamic Bank will make up the Joint Financial Advisors for the Government of Pakistan (GOP) Sukuk Programme. Read: Four ration warehouses to provide food essentials to needy in Islamabad Previously, the government raised PKR 300 billion of Sukuk against Jinnah Airport in three issues until November 2019. It is expected that Sukuk would assist the Islamic Banks with excessive unused liquidity, and would appear positively&hellip;<\/p>\n","protected":false},"author":76,"featured_media":60038,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15012,15015],"tags":[8157,24946,24947,21853],"persona":[],"class_list":{"0":"post-63542","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-allied-industries","8":"category-legal-taxation","9":"tag-dubai-islamic-bank","10":"tag-ijarah-sukuk-sharia-compliant-bonds","11":"tag-jinnah-international-airport","12":"tag-state-bank-of-pakistan-sbp","13":"cat-15012-id","14":"cat-15015-id"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Govt approves PKR 700b sukuk bond Jinnah Airport - Zameen News<\/title>\n<meta name=\"description\" content=\"Islamabad: The federal government has approved PKR 700 billion Ijarah Sukuk (Sharia-compliant bonds) against the Jinnah International Airport for three\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.zameen.com\/news\/govt-approves-pkr-700b-sukuk-bond-againstjinnah-airport-generate-funds.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt approves PKR 700b sukuk bond Jinnah Airport - Zameen News\" \/>\n<meta property=\"og:description\" content=\"Islamabad: The federal government has approved PKR 700 billion Ijarah Sukuk (Sharia-compliant bonds) against the Jinnah International Airport for three\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.zameen.com\/news\/govt-approves-pkr-700b-sukuk-bond-againstjinnah-airport-generate-funds.html\" \/>\n<meta property=\"og:site_name\" content=\"Pakistan Real Estate News &amp; 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