Question : Which country has recently(January 2022) raised 1 billion dollar through Islamic bond ?
a. Pakistan
b. Bangladesh
c. Iraq
d. Afghanistan
Ans. a.
Related facts —
- Pakistan has recently(January 2022) raised a whopping 1 billion dollar loan through the Sukuk bond at a record 7.95% interest rate, the highest cost that the cash-strapped country has agreed to pay in its history on an Islamic bond.
- Pakistan has also agreed to pledge a portion of the Lahore-Islamabad Motorway in return for the much-needed loan.
- Pakistan had to raise the loan to keep the official foreign exchange reserves at their levels ahead of some major foreign loans’ repayments.
- Bond term is 7 year tenor.
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