Karachi: BankIslami has notified stakeholders of an upcoming book closure for its Ehadi Sukuk II (BIPLSC2), scheduled for the end of October. The book closure, set from October 30, 2024, to October 31, 2024, will facilitate the determination and payment of profits for this investment product. This information was shared in an official communication addressed to the Pakistan Stock Exchange Building in Karachi and key financial regulatory authorities. According to information available from the Pakistan Stock Exchange (PSX), the measure aims to ensure that all profit transfers and entitlements are accurately accounted for.

The closure period allows for the finalization of transfers at the Central Depository Company’s operations, with a clear deadline set for submission of transfer requests by the close of business on October 29, 2024. Located at Karachi, the transfer book operations are critical for updating and maintaining the accurate status of holdings.

As detailed in the correspondence, the book closure is a routine but essential financial practice to ensure the timely processing of entitlements to the transferees, underscoring BankIslami's commitment to meticulous financial management and stakeholder communication.