PAKISTAN: The Pakistan Stock Exchange, the National Clearing Company of Pakistan and the Central Depository Company of Pakistan collectively announced the implementation of a delivery versus free reporting mechanism for the Government of Pakistan (GoP) Sukuk Ijarah offerings.
The mechanism will facilitate market participants – including Islamic banks and commercial banks – who maintain their trading accounts with securities brokers, to execute Bai Muajjal transactions through the capital market institutions’ platform following a process similar to the over-the-counter market.
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