Business Desk :
The state-run Investment Corporation of Bangladesh (ICB) will issue ‘ICB 1st Mudaraba Sukuk’ worth Tk 10 billion in a bid to support the country’s capital market.
The corporation’s board of directors has taken the decision of issuing sukuk subject to approval of the securities regulator and others concerned, according to a disclosure posted on the website of Dhaka Stock Exchange (DSE).
“The fund will be invested in various shariah based securities or instruments of capital market and money market,” the disclosure said.
The state-run corporation said at least 70 per cent of the fund will be invested in the capital market and the rest will be invested in the money market.
The tenure of the ICB’s non-listed sukuk will be 10 years and the face value will be Tk 1000 per unit.
The prospective eligible investors or sukuk holders include all residual and non-residual Bangladeshis, local and foreign companies, government institutions and corporations, and other social institutions such as clubs and associations.
