Prime Bank PLC, in collaboration with City Group, on Thursday announced launch of Shariah-compliant short-term investment opportunity in ‘Teer Islamic Commercial Paper,’ said a press release.
This initiative aims to create a new investment avenue aligned with Islamic finance principles, offering investors an attractive return over a 180-day period.
Prime Bank DMD Shams A Muhaimin and City Group finance and commercial director Tanvir Hydar Pavel signed an agreement in this regard.Â
The issuer of the Teer Islamic Commercial Paper is City Auto Rice and Dal Mills Limited, a concern of City Group. Prime Bank is serving as issuing and paying agent.
