Al Baraka Bank issues first subordinated sukuk in Pakistan
 

02-10-14 04:59 AM

The Pakistani unit of Bahrain's Al Baraka Banking Group has raised 2 billion rupees ($19.5 million) via the country's first issuance of subordinated sukuk, or Islamic bonds, a bank official said. With Basel III global banking standards being phased in around the globe, several Islamic banks have issued subordinated instruments to raise capital, including those in Turkey, Malaysia, Saudi Arabia ...

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