Karachi Inter Bank Offered Rate

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Karachi Inter Bank Offered Rate

Commonly called KIBOR. The average interest rate that prime banks in Pakistan offer for term deposits.
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The announcement said it has been decided that the financing provided on the basis of participatory 'Musharakah' and 'Mudaraba' and 'Wakalah' (agency) modes by the Islamic banking institutions shall be exempted from the requirement of using Karachi inter bank offer rate (Kibor), as the benchmark rate, reported Khaleej Times.
They said cut in the cost of borrowing by the central bank is a good omen for the leveraged sectors, as their earnings might improve if the current downward trend in Karachi Inter Bank Offer Rate (KIBOR) persisted.

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