Corporate corner: DIB Pakistan issues Rs3.12b Sukuk

DIB was established in 1975 as the world’s first Islamic Bank in UAE

KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) announced the successful issuance of fully paid up, rated, perpetual, unsecured, subordinated, non-cumulative and contingent convertible and privately placed Mudarabah Sukuk Certificates.

The Rs3 billion Sukuk issue was oversubscribed closing at an issue size of Rs3.12 billion reflecting strong demand and confidence by the investors in one of the fastest growing banks in the country, which is also one of the leading global brand in Islamic Banking.

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DIBPL is a wholly owned subsidiary of Dubai Islamic Bank PJSC, UAE (DIB). DIB was established in 1975 as the world’s first Islamic Bank in the United Arab Emirates (UAE).

With group assets of $60 billion, a market capitalisation of around $9 billion, and workforce of more than 8,000 employees within the group, the organisation is recognised as a formidable force in Islamic finance and one of the most progressive Islamic finance institutions in the world.

Published in The Express Tribune, January 29^th, 2019.

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