Karachi: BankIslami has scheduled a book closure for its Ehad Sukuk II (BIPLSC2) on August 30 and 31, 2024, to finalize the entitlements for the upcoming profit payment. This closure aims to address the transfers and entitlements as recorded by the end of business on August 29, 2024.
The transfer books for BankIslami’s Ehad Sukuk II will be inaccessible during these dates to facilitate the accurate distribution of profit payments to Sukuk holders. Transfers of Sukuk that are logged at F.D. Registrar Services Pvt. Ltd on I.I. Chundrigar Road in Karachi by the close of business on August 29 will be eligible for this profit payout.
According to information available from the Pakistan Stock Exchange (PSX), the precise organization of these dates ensures compliance with financial regulations and fair treatment of all Sukuk holders.
This brief closure period is a routine financial practice intended to streamline the process of distributing profits accrued by the Sukuk, which is a form of Islamic investment bond, aligned with Sharia law principles.