The government has decided to collect funds through ‘Sukuk Bond’ to develop the upazila and union road network in the Chattogram Division.
In line with this, the auction of a five-year term sukuk bond will be held on Wednesday at Bangladesh Bank (BB).
Meanwhile, in the last few years, the government has raised Tk 18,000 crore through three separate investment sukuk issues. In continuation of this, it has been decided to issue the fourth Bangladesh Government investment sukuk with a face value of Tk 1,000 crore against the project titled “Upazila and Union Road Widening and Strengthening (CDWSP) of Chittagong Division” under ‘Istisna’ and ‘Lease’ method.
The prospectus prepared for the issue of investment Sukuk (CDWSP Social Impact Sukuk) for the implementation of the said project has been finalised with the approval of BB's Shariah Advisory Committee.
According to the prospectus, the sukuk will be issued on an Istisna and Ijara basis, with a maturity date of June 6, 2029. Tk 104 crore per annum (at the rate of 10.40 per cent) will be paid semi-annually to the investors against investment in this Sukuk.
All banks and financial institutions having Current/Al-Wadiyah accounts with BB can participate in the direct auction.
Apart from this, domestic and foreign individual investors including insurance companies, provident funds and deposit insurance funds, and banks/financial institutions having current/al-wadiyah accounts with the BB can participate in the auction.
