Aug 31 2011
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Meezan arranges short-term Sukuk deal
The PKR1.5bn ($17.3m) Sukuk, issued by Pakistan's largest power company KAPCO (Kot Addu Power Company Ltd) is a six month Musharakah and a Shari'ah compliant alternative to conventional short-term paper.
The issue will create much-needed liquidity for the Islamic finance industry and was well received by the local mutual funds sector with the issue oversubscribed by 50%.
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