Al-Arafah Islami Bank Ltd will issue ‘AIBL 4th Mudaraba Subordinated Bond’ worth Tk 500 crore to strengthen its capital base in line with the regulatory requirement.
The bank’s board of directors took the decision to issue the bond subject to the approval of the related regulator, it said in a filing with the Dhaka Stock Exchange (DSE) on Monday.
Each share of the Al-Arafah Islami Bank, which was listed on the Dhaka Stock Exchange (DSE) in 1998, in the first three hours of trade on Monday was priced Tk 26.10.
The bank’s share traded between Tk 21.40 and Tk 30.10 in the last one year.
The bank disbursed 15 per cent cash dividend for the year-end on December 31, 2021.
The bank’s paid-up capital is Tk 1,064 crore and authorised capital is Tk 1,500 crore while the total number of securities is 106 crores.
