Karachi: Mughal Iron and Steel Industries Limited has successfully completed its third profit payment to the holders of Sukuk Certificate-II, one day ahead of the scheduled date.

In a financial update, Mughal Iron and Steel announced the dispatch of profit payments to its Sukuk-II certificate holders that were due on September 28, 2024. The payments were made on September 27, 2024, reflecting the company's commitment to timely financial obligations. According to information available from the Pakistan Stock Exchange (PSX), this marks the third such payment under the terms of the Sukuk-II arrangement, underscoring the steel giant's structured approach to its Islamic finance instruments.

The designated market category for this financial activity falls under corporate debt instruments, highlighting the use of Sukuk certificates—a Sharia-compliant bond-like instrument—as a key component in the company's capital structure. This financial maneuver not only provides liquidity to Sukuk holders but also strengthens investor confidence in Mughal Iron and Steel’s financial management.