AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi, In the latest financial disclosure to the Pakistan Stock Exchange (PSE), significant profit rental payments were announced for the period from September 1, 2023, to February 29, 2024, under the Pakistan Energy Sukuk-1 scheme. The report detailed payouts to various institutional investors, reflecting a substantial distribution of rental amounts totaling 23,944,219,178 PKR.
Among the notable recipients, Unilever Pakistan DC Pension Fund (Sub Fund A) received a net rental payment of 14,306,671 PKR for holding 23,900 sukuks. Faysal Bank Limited, with a substantial investment in 7,000,000 sukuks, was allocated a massive rental amount of 4,190,238,356 PKR, marking one of the highest payouts in this cycle.
Habib Metropolitan Bank Limited and Meezan Bank Limited also featured prominently in the list, receiving 700,368,411 PKR and 9,231,214,820 PKR, respectively, highlighting their significant stakes in the sukuk holdings. Trustees of P.S.O.–Staff Provident Fund and EFU Life Assurance Ltd saw returns of 49,800,384 PKR and 119,721,096 PKR, showcasing the diversity of sectors participating in the investment scheme.
The list further included major Islamic banks such as UBL-Ameen Islamic Banking and Bank Alfalah Limited-Islamic Division, with net rental payments of 598,605,479 PKR and 329,233,014 PKR, respectively. National Bank of Pakistan, another key player, was allocated 478,884,384 PKR.
Corporate participants like Pak Suzuki Motor Company Ltd. and Engro Corp Ltd also benefited from their investments, receiving 23,944,219 PKR and 5,447,310 PKR, respectively, in net rental payments. Other significant payments were made to institutions such as BankIslami Pakistan Limited, Dubai Islamic Bank Pakistan Limited, and MCB Islamic Bank Limited, highlighting the wide-reaching impact of the sukuk in the financial landscape.
This financial announcement underlines the active participation and benefits accruing to a broad spectrum of investors in Pakistan’s Islamic finance sector, reinforcing the significance of sukuk instruments in the country’s economic fabric.