Karachi, Bank Islami Pakistan Limited has introduced a Sukuk (Tier-I) financial instrument, BIPLSC, to the market, as announced on the Pakistan Stock Exchange (PSE). This perpetual sukuk offers an attractive profit rate based on 3M KIBOR + 2.75%. With a total and outstanding issue size of PKR 2 billion, the instrument is designed to appeal to investors seeking Sharia-compliant opportunities. The next coupon date for this sukuk is scheduled for March 1, 2024, and it requires a minimum market lot of one, with each lot having a face value of PKR 5,000.