Definitions for "PIBS"
Permanent Interest Bearing Shares. These are a form of bond, which are issued by building societies.
Permanent Interest-Bearing Shares. These are means for building societies to raise capital. They are a lump sum investment, usually in increments of £1000, and pay a fixed rate of interest, in most cases twice yearly.
Securities issued by building societies that pay fixed interest. Often not redeemable.... more on PIBS (permanent interest bearing shares)
Principles of Implementation and Best Practice.