Karachi: The Pakistan Stock Exchange Limited (PSX) announced the listing of the Government of Pakistan's Ijarah Sukuk (GIS) on December 6, 2024, following its issuance through a primary market auction on December 3, 2024, and subsequent settlement on December 4, 2024. The GIS, a Shariah-compliant financial instrument, will be available for trading on the Jade Trading Terminal (JTT), a BnB-enabled platform at PSX.

According to information available from the Pakistan Stock Exchange (PSX), the one-year GIS is discounted with a maturity date of December 3, 2025. The instrument will trade under the symbol code P01GIS031225, with a cut-off price set at PKR 90.1146 and a cut-off rental of 10.9999%. The face value of the GIS is PKR 5,000, and transactions can be made in multiples of this amount. The minimum order quantity is set at 5,000, and the maximum buy/sell order quantity and value are capped at PKR 1,000,000,000.

The GIS will operate under a continuous auction settlement cycle, with T+1 for the continuous auction market and T+0 for the negotiated deals market. The National Clearing Company of Pakistan Limited (NCCPL) will oversee the clearing, settlement, and risk management, while the Central Depository Company of Pakistan Limited (CDC) will hold custody of the instrument.

Market participants are advised to consult the NCSS Settlement Report on their NCSS terminals and the BnB Trade Log available on THIMS for trade verification. Non-Broker Clearing Members (NBCMs) already providing market making in listed debt securities at PSX may also participate in trading the newly issued GIS for their proprietary portfolios.