• Issue Amount: BDT 500 million (First come first serve basis until the issue amount is fully subscribed.)
• Issuer: City Auto Rice & Dal Mills Limited, a concern of City Group
• Issuing and Paying Agent: Prime Bank PLC.
• Shariah Principle: Endorsed by the Shariah Supervisory Committee of Prime Bank PLC. It is based on Bai Salam, Wakalah and Bai-Murabaha in a sequential manner.
• Source tax is the final tax

* Base Rate (9.96% p.a.) + Margin (4.5% p.a.). Base rate is the average of upper limit of the 6 month’s deposit rate of full-fledged scheduled Islamic Banks estimated as of February 2025.

• Personal Guarantee (Shareholding Directors of the issuer)
• Corporate Guarantee (City Edible Oil Ltd.)

Any individual or institutions operating in Bangladesh.

ICP adheres to Shariah principles, avoiding Riba (interest) or Subhat al Riba (doubtful resemblance to interest) and fictitious transactions.

Attractive return of 14.46% p.a. (estimated as of February 2025) compared to only 9.96% p.a. deposit rate of full-fledged scheduled Islamic bank.

Ideal for short-term investments, principal and profit paid in a single payment after 180 days.

Opportunity to collaborate with City Group, one of Bangladesh’s most renowned and trusted business conglomerates. With a 53-year legacy of excellence, City Group has established itself as a leading manufacturer of consumer goods and commodities. The group has expanded significantly over the years, specializing in diverse products and services. Major brands of the group include:

Disclaimer: Teer Islamic Commercial Paper is subject to credit and other related risks and not protected under Deposit Insurance Act, 2000. The repayment will be made to the investor(s) when the fund is made available by the issuer. In case of non-repayments (case of default), Prime Bank PLC. or any of its affiliates cannot be held responsible for seeking recovery from the issuers or initiating any action against the issuer on its own or on behalf of the investor(s). However, the issue will be secured by personal guarantee of shareholding directors of the issuer and corporate guarantee of City Edible Oil Ltd. Teer ICP, so far, the context requires and matches with the Shariah principle, complies with the product structuring standards outlined by Guidelines on Commercial Paper for Banks (2016).