Jazz completes Pakistan's first-ever telecom Sukuk at Rs15bn
Milestone issuance to boost Shariah-compliant instruments, supporting digital expansion.
Telecom operator Jazz has successfully completed its Rs 15 billion Sukuk issuance, a milestone as the first and largest short-term unsecured Sukuk by a telecom operator in the country, according to a news release.
The company stated that this Sukuk opens a new funding path to support its "4G for all" digital initiatives.
Jazz, with a 30-year presence in Pakistan and $10.6 billion in investments, is a major player in the nation's cellular market, holding a 45% revenue market share and serving over 71.5 million subscribers.
The issuance is expected to boost the use of Shariah-compliant financial instruments within Pakistan's capital markets.
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