BSEC approves Tk 700cr bond of FSIBL

The stock market regulator approved the proposal of issuing mudaraba subordinated bond of First Security Islami Bank worth Tk 700 crore recently.

The tenure of the non-convertible bond will be seven years. The fund will be raised to strengthen the bank's tier 2 capital base. The offer price of the bond will be Tk 10 lakh per unit.