IFIC Bank PLC informed that the Board of Directors of the company in its 887th meeting held on 12 June 2024, has taken decision to raise the Tier II capital of the company as per BASEL III guidelines by issuing Fully Redeemable, Non-convertible, Unsecured, Subordinated Zero-Coupon Bond subject to approval of Bangladesh Bank and Bangladesh Securities & Exchange Commission (BSEC). Total issue price of the Bond will be BDT 6,000 million. To issue the above mentioned Bond, the Board of Directors of the company has also decided to withdraw the previous proposal for issuance of IFIC Bank Non-Convertible Coupon Bearing Subordinated Bond of BDT 5,000 million approved in its 836th meeting dated 25 August 2022.