Bangladesh’s Second Sukuk Auction Garners Vast Interest 

A second tranche issuance worth BDT 40 billion in Sukuk was held at Bangladesh Bank (BB) on the 10th of June 2021, under the existing BDT 80 billion Sukuk programme.

Why it Matters?

The Finance Ministry of Bangladesh signed a Memorandum of Understanding (MoU) on the 22nd of December 2020 to raise BDT 80 billion worth of Sukuk for the implementation of a safe water supply project. A designated (by BB) special-purpose vehicle (SPV) allocated the bond certificates, with priority given to Shariah-based Islamic banks, non-banking financial institutions (NBFIs) and insurance companies. Of this, the first tranche issuance took place on the 30th of December 2020.

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