Home HEADLINES BankIslami raises paid-up capital to Rs11bn

BankIslami raises paid-up capital to Rs11bn

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BankIslami raises paid-up capital to Rs11bn

BankIslami Pakistan Limited has successfully completed its 6th rights issue of Rs1 billion recently to increase its total paid-up capital to Rs11 billion.

“This addition in the capital of the bank will provide the necessary impetus to its growth,” the bank said in a statement.

In view of its strategy to further strengthen its capital, BankIslami would 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 Rs2 billion, out of which Rs300 million would be offered to the general public.

The expected profit (pricing) of the Sukuk is three months Kibor +2.75pc with profit payment on a monthly basis.

BankIslami is one of the leading Islamic Banks in Pakistan with over 330 branches covering more than 114 cities of Pakistan which offers a full range of services in corporate, commercial, consumer, retail and investment banking activities.

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