SBP invites bids for FRR-GIS auction

KARACHI: The State Bank of Pakistan (SBP) has invited bids for the auction of Fixed Rental Rate Government of Pakistan Ijara Sukuk (FRR-GIS) to be held on February 8, a statement said on Thursday.

The target amount for the auction has been fixed at Rs100 billion.  The SBP said that the auction of FRR-GIS would be held under the provision of the SBP circular issued a day ago.

The central bank said that the fixed rental rate would be determined in the auction. The maximum value of the asset under the present issuance programme of Ijara Sukuk was Rs197.36 billion, it added.