Pakistan In Focus-Pakistan raised $1bn by sukuk bond.

Pakistan on Monday raised a $1 billion loan through the Sukuk bond at a 7.95 percent interest rate - which is the highest cost that the country has agreed to pay in its history on an Islamic bond. The government went to international capital markets after it consumed nearly $2 billion out of the $3 billion borrowed from Saudi Arabia one-and-half months ago. This pulled down the gross official foreign exchange reserves to $17 billion as of January 14...