Karachi: Bank Islami Pakistan Limited has introduced a perpetual Sukuk security, BIPLSC, with a single unit market lot and a face value of Rs. 5,000. The profit rate is set at 3-month KIBOR plus 2.75%. The issue size is Rs. 2,000,000,000, with the total outstanding principal being the same. The next coupon is due on 1 December 2023.