Dubai Islamic Bank PJSC, (DIB) the United Arab Emirates’ biggest Shariah-compliant lender, will pay a profit rate of 6.25 percent on a $1 billion Islamic bond it plans to sell, said a banker familiar with the matter.
The profit rate per year is payable semi-annually in arrear until the first call date in 2019, two bankers familiar with the details said separately yesterday, asking not to be identified because the matter is private. The rate will be reset on the first call date and every six years thereafter to a new fixed rate, they said…………………………………….Full Article: Source