2 min read
Pakistan has successfully raised Rs 244.54 billion through the 31st Government of Pakistan Ijarah Sukuk (GIS) auction, reflecting strong investor confidence in Shariah-compliant government securities. The auction, held on February 6, 2026, attracted bids worth more than Rs 524 billion, far exceeding the amount raised.
According to data released by the Pakistan Stock Exchange, the auction featured multiple Sukuk tenors with competitive cut-off rates. The one-year discounted Sukuk closed at 9.4689%, while three-year and five-year fixed rental Sukuk were set at 9.63% and 9.87%, respectively.
The 10-year zero-coupon Sukuk recorded a yield of 10.89%, while the 10-year variable rental Sukuk was priced 56.50 basis points below the reference rate, indicating strong appetite even for long-term Islamic instruments.
Market participants said the strong response highlights growing trust in Pakistan’s sovereign Sukuk market, with banks, mutual funds, and brokerage houses actively participating. The auction proceeds will support government financing needs while expanding Shariah-compliant investment avenues.
Pakistan has increasingly relied on Islamic financing instruments to diversify its debt profile and attract a wider investor base. Analysts say continued success in Sukuk auctions reflects a maturing Islamic finance ecosystem and stable demand for government-backed instruments amid broader economic adjustments.
