Bangladesh’s Debut BDT 40 Billion Sukuk Auction Oversubscribed by Nearly Four Times

Bangladesh’s debut issuance of BDT 40 billion Sukuk, part of the Bangladesh Government Islamic Investment Sukuk, has been oversubscribed by nearly four times to BDT 151.53 billion in its inaugural auction held on the 28th of December 2020, according to local media reports.

The Sukuk auction, which is the first of its kind in Bangladesh, was held by Bangladesh Bank (BB) in order to mobilise funds from financial institutions for the implementation of a safe water supply project. The first tranche of BDT 40 billion, is a part of the total BDT 80 billion Sukuk, with the remaining BDT 40 billion to be raised on the 28th of June 2021, according to the Sukuk prospectus released by BB.

Local m...