Musharakah Convertible Income Certificates
Email 
Definition of "Musharakah Convertible Income Certificates"
A financial instrument floated by Investment Finance Corporation (IFC) in 1993. The certificates were the first musharakah facility provided by IFC. They are US dollar denominated, have a 10-year maturity and a rate of return linked to annual dividend rate on musharakah’s ordinary shares. The certificates are convertible into ordinary shares of the musharakah at book value and are tradeable at stock exchange.