PAGE Blog Business Weekly Magazine
In countries like Pakistan, the governments facing shortage of revenue, indulge in borrowing to meet their developmental expenditures. While the conventional banks have been the key beneficiaries of such borrowing, Islamic financial institutions (IFIs) face serious liquidity management problems as these can’t invest in Riba-based instruments like Treasury Bills and Pakistan Investment Bonds. Issue of Sovereign Ijara Sukuk and corporate Sukuk on one hand offers an opportunity to invest …
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