Sixth Sukuk bond coming in May to raise Tk 20 billion

The government will raise Tk 20 billion by issuing the sixth Sukuk bond in the second week of May 2025, as part of its efforts to implement a development project in the Rajshahi division.

The decision was made at the first meeting of the Shariah Advisory Committee of the central bank at its headquarters in Dhaka on Wednesday with Bangladesh Bank (BB) Deputy Governor Dr. Md. Kabir Ahmed in the chair.

The committee has also decided to issue the Islamic bonds using both Istisna’a and Ijarah financing modes with a tenure of seven years, according to BB officials.

The Local Government Engineering Department (LGED) will implement the Rajshahi Division Important Upazila & Union Road Widening & Strengthening Project (RDIRWSP) using the funds, aiming to create job opportunities by improving road connectivity in the rural areas of the northwestern region of Bangladesh.

The project will help establish civic amenities across 65 upazilas in eight districts of the Rajshahi division by enhancing rural road connectivity, they added.

Sukuk is an Islamic financial certificate, similar to a treasury bond and structured to generate returns in compliance with Islamic finance principles.

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