Karachi: The Pakistan Stock Exchange (PSX) has announced an upcoming auction for the Bai' Muajjal (Deferred Payment) GoP Ijarah Sukuk, slated for Wednesday, October 29, 2025, from 11:00 a.m. to 12:00 p.m. The auction pertains to the 1-Year GIS Discounted instrument coded P01GIS061125, set to mature on November 6, 2025.

The auction will be conducted through the PSX Auction System, with participation limited to Conventional Banks, Islamic Banks, and Mutual Funds, which fall under the "Commercial Bank" and "Pension Fund/Provident Funds" investor categories, respectively. According to information available from the Pakistan Stock Exchange (PSX), other investor categories will be restricted during the instrument mapping process by eligible participants. Participants are required to express their interest to PSX and NCCPL via designated email addresses, ensuring the subject line clearly states "Bai' Muajjal Auction Setup."

The bidding process allows only competitive bids-for-sell, with participants needing to submit exact bid amounts of Sukuk based on their available CDC Accounts. The minimum bid size is set at PKR 25 million, while the face value per Sukuk remains at PKR 5,000. Successful participants will be notified via email, and auction results will be accessible on the GIS webpage of the PSX website.

Post-auction, successful bidders must transfer the exact face value of Sukuk to the Ministry of Finance (MoF) CDC IAS account by Thursday, October 30, 2025. The new Bai' Muajjal security, non-tradeable and non-transferrable, will be credited to the participants' CDC accounts. The maturity date for the new Bai' Muajjal instrument, coded BMD02 - 301028, is October 30, 2028.

The Bai' Muajjal auction's target amount stands at PKR 75 billion, with the tenor spanning three years. Participants are reminded that the actual security P01GIS061125 will be delisted and revoked upon maturity, as per standard procedures.