13.03.2013 - Dubai Islamic Bank plans to pay initial profit rate of 7pct on sukuk
Dubai Islamic Bank (DIB), the United Arab Emirates biggest Sharia-compliant lender, may pay a profit rate of about 7 per cent on a perpetual Islamic bond it plans to sell, said two bankers familiar with the matter. The profit rate per year is payable semi-annually in arrear until the first call date in 2019, said the bankers, 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
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