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5.5% rate

Pakistan successfully issued US$1bn sukuk at 5.5% rate: Dar

ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar on Thursday expressed satisfaction that Pakistan successfully issued US$ 1 billion sukuk on Wednesday night at a historic low rate of 5.5%. He claimed that this time Pakistan's sukuk is better than recent sovereign issuance of bonds by Bahrain and Sri Lanka, the credit ratings of which are higher than Pakistan. Sukuk is Islamic bonds, which is structured in such a way as to generate returns to investors without involving interest. The finance minister said Pakistan…