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Bangladesh issues its maiden Sukuk

  • Published at 01:02 am December 29th, 2020
Islamic Finance

The holders of the Islamic bond will get returns of 4.69%

The Bangladesh Bank on Monday issued the country’s first Sukuk, a bond structured to comply with Shariah law that forbids the payment of interest, for financing safe water supply projects across the nation.

The government collected Tk 4,000 crore for the projects through an auction on the day. Investors submitted bids worth Tk 15,153 crore during the auction, said a BB press release.

The sukuk holders will receive a profit of 4.69 per cent on their aggregate investment in the Islamic bond.