A Sukuk is an Islamic financial certificate, similar to a treasury bond, which complies with Shariah laws
The second auction for the 5-year period investment through Sukuk for financing safe water supply projects across the nation will be held on June 9.
A Sukuk is an Islamic financial certificate, similar to a treasury bond, which complies with Shariah laws.
Tk4,000 crore is set to be raised from the second auction. The first bid was held on December 29 last year, where the government collected Tk 4,000 crore for the projects.
The auction will be held at the head office of the Islamic Securities Section, Debt Management Department of Bangladesh Bank in the capital.
The Sukuk holders will receive a profit of 4.69% on their aggregate investment in the Islamic bond.
Bids can be submitted in the auction through any domestic or foreign individual or organization, any bank or financial institution located in Bangladesh, with a current account with Bangladesh Bank.
Banks and financial institutions will be able to submit bids in the manner described in the auction notice between 10:00 am and 12 noon on the auction date (June 9, 2021) for the purchase of Sukuk in multiples of Tk 10,000 for themselves or their clients.
Successful bidders will be notified of the amount of Sukuk allotted against their application by e-mail on the same day.
The transaction will be completed on the next working day (June 10, 2021) by crediting Al-Wadiyah or current account debit and securities accounts held with Bangladesh Bank by banks and financial institutions.