GOP Ijara Sukuk by State Bank of Pakistan

Top 20 FREQUENT WORDS

sukuk 87 gis 50 pakistan 35 ijara 33 account 30 banks 30 gop 29 profit 28 sbp 28 amount 27 date 26 issue 23 sgla 23 government 21 karachi 18 pdo 18 auction 17 sgl 17 maturity 16 statement 16

DOCUMENT KEY POINTS

gop ijara sukuk gis chapter contents paragraphs page no government of pakistan ijara sukuk i rules procedure to be followed for sale of the ii sukuk transfer from one sgl account to iii another sgl account secondary market trading procedure for registration of documents iv produced by an institution to deal in government securities v procedure for payment of profit procedure for payment of principal and vi profit on maturity government head of accounts for vii management of sukuk viii monthly statements ix list of forms page
procedure relating to issue management repayment etc

these rules shall apply to government of pakistan ijara sukuk hereinafter referred to as the sukuk issued by the pakistan domestic sukuk company limited hereinafter referred to as the company a company hundred per cent owned by the federal government from time to time

government security the sukuk shall be government security for the purpose of the public debt act xviii of and the payments under the sukuk shall represent the payment obligations of the government of pakistan on account of the payment of rentals in respect of assets held on trust by and leased from the company and on account of payment of purchase price to the company for purchase of assets at the time of maturity
statutory liquidity requirement slr eligibility the sukuk shall be statutory liquidity requirement slr eligible for islamic as well as conventional banks

successful bidders would be required to duly execute within one day of announcement of auction result a certificate subscription undertaking through their authorized signatories at the premises of the sbp bsc karachi to subscribe to the sukuk and deposit the requisite amount for settlement of the accepted bids on the settlement date of the auction
all commercial banks including islamic banks and non banks subjected to slr and entitled to open current account with sbp will be eligible to open subsidiary general ledger account sgla with state bank of pakistan for gop ijara sukuk

all banks nbfis maintaining sgla with sbp bsc will be required to furnish to the sbp bsc a reconciliation statement of their balances of gop ijara sukuk held in the sgla relating to their own holdings and holdings of their clients separately in form gis as on each end month basis or as and when demanded by sbp bsc

the banks and nbfis maintaining ips will issue on half yearly basis or as and when requested for by their clients a certificate in which gop ijara sukuk held by the banks nbfis on behalf of the concerned client will be listed
page

the application should also be accompanied by a cheque in favor of the transferor of the amount of sukuk representing the cost of the amount of sukuk desired to be transferred for debit credit of their account for simultaneous transfer of the funds in opposite direction in current accounts of the transferor and transferee maintained at the sbp bsc
in case of transfer of sukuk where payment is not involved as in case of own to ips or ips to ips between two banks or ips to own sgla of another bank account or vice versa the state bank shall act on transfer instructions received in writing from the sgla holder holders

chapter iv procedure for registration of documents produced by an institution to deal in government securities
securities will be done at pdo as provided in para to chapter of pdo manual

three days before each profit payment date in respect of sgla of the pertinent issue shut period will start and during the period any transfer transaction effected will not be accepted either for making payment of profit or discharged value of the sukuk

debit on account of principle amount on redemption of sukuk major object a principal repayments of loans minor object a principal repayments of loans domestic detailed object a sukuk iii
credit on account of sale proceeds from pd s and fee from pd s major object e a debt minor object e a permanent debt a domestic detailed object e sukuk ii

debit advice on repayment of gis to concerned authorities gis
letter to sgla holders to convey profit rate for next half year gis p a g e

the profit on the sukuk shall be paid semi annually on the basis of rental rate announced by the state bank of pakistan prior to start of each half year and determined in accordance with the provisions of fscd circular no
yours faithfully for for authorised signature authorised signature name name with seal rubber stamp with seal rubber stamp p a g e

state bank of pakistan domestic markets monetary management department karahi years gop ijara sukuk auction no held on
senior no name of the primary dealer amount cumulative margin over u p a g e

date debit credit security security amount amount value date value date sgl a c sgl a c p
form gis state bank of pakistan public debt office karachi sgl credit internal voucher auction no

sales non banks banks name of the group wise details amount of outright amount of outright banks residents a
bank s holdings of gop ijara sukuk face value amounted to rs authorized signature p a g e

account held by pdo fa gop ijara sukuk date of issue auction no name of the a c holder to be sgl account balance in sgl accoun date grouped separately as on no own client gop ijara sukuk of years p a g e
name of the bank nbfi statement showing the balances of s

form gis name of the bank nbfi form of receipt received the principal amount with profit due on years gop ijara sukuk auction no
it is certified that the nominal amount stated above agrees with that registered in our books

date the director finance department state bank of pakistan central government accounts section karachi dear sir repayment of gop ijara sukuk we advise having debited today the government deposit account central a i non food on account of repayment of gop ijara sukuk with a sum of rs rupees being the discharge value of gop ijara sukuk detailed as under no
and name of holder type of securities issue date type amount yours faithfully p

form gis monthly statement showing the balances of rupee debt of gop ijara sukuk and the transactions affected during the month of for the gop ijara sukuk senior opening new closing particulars repayment no balance issue balance total no
chief manager state bank of pakistan pdo karachi p a g e

form gis monthly statement showing the ownership classifcation of gop ijara sukuk vouchers passed during the month of new issue repayment senior particulars banks nbfis others banks nbfis others no gop ijara sukuk years no
chief manager state bank of pakistan pdo karachi p a g e

form gis monthly statement showing the profit paid on gop ijara sukuk during the month of amount of profit senior previous progressive total no total total particulars banks nbfis others gop ijara sukuk years no
chief manager state bank of pakistan pdo karachi p a g e

form gis monthly statement showing balance position of sgl own ips a c of banks nbfis others in respect of gis at the month ended on name of the senior no gop ijara sukuk of a a
years maturity institution banks non banks

form gis state bank of pakistan public debt office karachi dated m s dear sir profit rate for next half year please note that profit rate on years gop ijara sukuk of the issue dated auction no
for next half year starting from to will be as follows benchmark rate margin profit rate p

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DOCUMENT WORD ANALYSIS

Main Category

AlHuda Material\sukuk islamic

KeyWords

reit estate invest tax trust NA account incom NA finance boardwalk manage rental busi pakistan limit leas properties NA distributable

DOCUMENT REFERENCES

Number of Pages

31

Published Date

2008-09-13 10:25:59

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GOP Ijara Sukuk by State Bank of Pakistan

Contents

Top 20 FREQUENT WORDS

DOCUMENT KEY POINTS

DOCUMENT WORD ANALYSIS

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KeyWords

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