Bank Islami Pakistan Limited Launches Sukuk with a 3M KIBOR +2.75% Profit Rate

Karachi, Bank Islami Pakistan Limited has issued Sukuk (Tier-I) with a perpetual tenor. The Sukuk, known as BIPLSC, is offered with a market lot of 1 and a face value of Rs. 5,000. These Islamic financial certificates come with a profit rate based on 3M KIBOR +2.75%. The total issue size is Rs. 2,000,000,000, which matches the outstanding principal. The next coupon payment for Sukuk holders is due on March 1, 2024.