Karachi: VIS Credit Rating Company Limited has concluded the rating process for the Short Term Sukuk issued by OBS Pharma (Private) Limited, marking the end of its six-month term. The sukuk, valued at Rs. 1,500 million, was successfully redeemed at the end of August.

According to VIS Credit Rating Company Limited, the sukuk was issued on February 29, 2024, and underwent a previous rating assessment on March 29, 2024. The instrument has now been fully redeemed as of August 29, 2024, completing its intended lifecycle.

This financial instrument provided OBS Pharma with alternative financing options under Islamic financial principles, reflecting the growing interest and adherence to Sharia-compliant investment opportunities in the region.