Engro sends Islamic Sukkuk certificates to holders

Engro launched Engro Islamic Rupiya Sukuks on 9th June 2014 and has sent the certificates of sukkuks to the successful applicants. The sukkuk certificates have been sent through TCS.engro islamic rupiya

The sukkuk was issed for 3 and 5 years tenure. The profit for 3 year Islamic sukkuk has been set at 13% per year whose profit will be disbursed every six months. The profit for 5 year sukkuk is 0.5 higher than the 3 year sukkuk. The profit distribution is set at every 6 months for both.

Engro Corporation launched this Engro Islamic Rupiya Sukkuk to harness the potential of local market to invest in it. The launch was uch successful as they were able to meet the target within a few days frm its launch.

This Sukkuk is endorsed by leading religious scholars and is managed by Meezan Group. The higher returns are Shariah complaint and their is no interest involved in it.

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