Pakistan to auction local-currency sukuk

By Bernardo VizcainoJune 18 (Reuters) - Pakistan&aposs central bank will auction a three-year local currency sukuk, or Islamic bond, more than a year after it last issued such an instrument, adding a much needed liquidity management tool for domestic Islamic banks.The central bank did not give a target size for the sukuk, which will be backed by motorway assets in Punjab province and use an ijara