05.09.2011 - Meezan arranges short-term Sukuk deal
Pakistan's Meezan Bank has completed the country's first short-term Sukuk deal. The PKR1.5bn ($17.3m) Sukuk, issued by Pakistan's largest power company KAPCO (Kot Addu Power Company Ltd) is a six month Musharakah and a Shari'ah compliant alternative to conventional short-term paper. The issue will create much-needed liquidity for the Islamic finance industry and was well received by the local mutual funds sector with the issue oversubscribed by 50%.............................................Full Article: Source
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