Karachi: The Pakistan Stock Exchange (PSX) has announced the listing of the Government of Pakistan (GoP) Ijarah Sukuk (GIS) for trading in the secondary market, effective Monday, January 26, 2026. This follows the primary market auction held on January 21, 2026, and the subsequent settlement on January 22, 2026.

The GIS instruments will be traded on the Jade Trading Terminal (JTT), a BnB enabled platform. The instruments available for trading include the 1-year GIS discounted Sukuk maturing on January 21, 2027; 3-year and 5-year fixed rental rate Sukuks maturing on January 22, 2029, and January 22, 2031, respectively; as well as two 10-year Sukuks, one with a fixed rate zero coupon and one with a variable rental rate, both maturing on January 22, 2036.

According to information available from the Pakistan Stock Exchange (PSX), the cut-off prices for these instruments vary, with the 1-year GIS discounted Sukuk having a cut-off price of Rs. 91.3718 and a cut-off rental rate of 9.4689%. The 10-year fixed rate zero coupon Sukuk is priced at Rs. 35.5694 with a cut-off rental rate of 10.8900%.

The face value for each instrument is set at Rs. 5,000, and orders can be placed in multiples of this amount. The minimum buy/sell order quantity is 5,000, while the maximum order quantity is set at 5,000.00 million. Additionally, the maximum buy/sell order value is capped at PKR 6,000.00 million.

The trading process will be managed through a continuous auction with a settlement cycle of T+1, while negotiated deals will follow an instant T+0 cycle. The National Clearing Company of Pakistan Limited (NCCPL) will handle clearing, settlement, and risk management, with custody being held by the Central Depository Company of Pakistan Limited (CDC).

Market participants are encouraged to contact the exchange for any assistance needed regarding trading in the secondary market.