Pakistan-based Bank Alfalah Ltd. raised 7 billion rupees through the issuance of unsecured, subordinated and contingent convertible term finance certificates.

The bank said March 27 that the perpetual noncumulative certificates will be listed March 28.

Arif Habib Ltd. is the market maker for the issue.

As of March 27, US$1 was equivalent to 115.50 Pakistani rupees.