6th rights issue pushes up BIP paid-up capital to Rs11bn

BankIslami Pakistan Limited has successfully completed its 6th rights issue of Rs1 billion recently to increase its paid-up capital to Rs.11 billion.

According to the bank, this addition in the capital 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 will be Rs2 billion out of which Rs300 million will be offered to general public. The expected profit (pricing) of the Sukuk is 3 months Kibor + 2.75 percent with profit payment on 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.

BankIslami is the first bank in Pakistan to introduce 'One Touch Banking' - a solution where your thumb is your bank. It pioneered biometric ATMs 13 years back in 2006, followed by the launch of cardless ATMs in 2013 and chequeless transactions over the counter in 2017.

This facility with unique features enables you to perform banking transactions (pay orders, cash withdrawals, IBFTs, utility bills, etc) without cheque and debit card just with your thumb impression.