Meezan Bank has achieved a significant milestone by becoming the first market maker for Government of Pakistan (GoP) Ijarah Sukuk on the Pakistan Stock Exchange (PSX). This means that Meezan Bank will now quote bid and ask prices for these securities, which are designed to increase liquidity and enhance the secondary market for GoP Ijarah Sukuk (GIS).
Since the auctions for GIS started on PSX in December 2023, there has been a steady increase in participation from individual investors. Meezan Bank’s involvement highlights PSX’s dedication to improving market efficiency. It is anticipated that this initiative will lead to further growth, with more financial institutions likely to join as market makers in the future.
