BankIslami Pakistan raises its paid-up capital to Rs 11bn
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KARACHI: BankIslami Pakistan Limited has successfully completed its 6th rights issue of Rs 1 billion recently to increase its total paid up capital to Rs 11 billion.
This addition in the capital of the Bank will provide necessary impetus to its growth. In view of its strategy to further strengthen its capital, BankIslami will soon announce the public offering of ‘Ehad Sukuk’ – first ever Listed Islamic Additional Tier-1 Capital instrument in Pakistan.
The total size of Ehad Sukuk is Rs 2 billion out of which Rs 300 million will be offered to general public. The expected profit (pricing) of the Sukuk is 3 months Kibor + 2.75 per cent with profit payment on monthly basis.
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