Islami Bank has received permission from the Bangladesh Securities and Exchange Commission (BSEC) for the fifth mudaraba redeemable non-convertible subordinated bond issue of Tk 500 crore.
According to a report of the Shariah-based bank on the Dhaka Stock Exchange (DSE) website on Sunday (December 1), the bonds will be issued to raise Tier-II capital and strengthen the bank's capital base. It will have 10,000 units, each priced at five lakh taka.
This approval was given after the earlier announcement of a bond issue of Rs 500 crore on September 19, 2024.
