ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued “A Practical Guide and Toolkit for Corporate Issuers” to standardize Sukuk structures and documentation, making corporate Sukuk issuance simpler, faster and more cost effective.
The initiative, in line with the Ministry of Finance’s direction to deepen Pakistan’s corporate debt market, aims to enable more companies to raise Shariah compliant financing through the capital market. During the last fiscal year, 72 Sukuk issuances raised around Rs. 307 billion, reflecting the growing significance of Islamic financing in Pakistan’s capital market.
The guidebook provides a step by step explanation of the Sukuk issuance process, covering regulatory requirements, standardized structures, model transaction flows, sample applications and illustrative legal documents. It is expected to reduce legal and structuring complexities, transaction costs and issuance timelines, particularly for first time issuers.
Developed through SECP’s regulatory experience and consultations with its Shariah Advisory Committee, industry experts, legal practitioners and market participants, the guidebook also addresses a key recommendation of the Corporate Debt Market Survey regarding the need for standardized Sukuk structures and documentation.
SECP expects the initiative to broaden financing options for companies and support the development of Pakistan’s corporate debt and Islamic capital markets.
