KARACHI: The State Bank of Pakistan (SBP) on Wednesday conducted open market operation (OMO) for outright purchase of government of Pakistan Ijara Sukuk – GIS-14 worth Rs21.474 billion.
The central bank conducted the operation for Bai Mujjal – outright purchase of GIS-14 for tenor of six- and 12-month Sharia compliant bonds.
The Islamic banking system offered amount Rs30.174 billion for the operation. The central bank rejected bids in six-month tenor worth Rs1 billion. However, it accepted 12-month tenor bonds worth Rs21.474 billion.