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Shab-e-Barat will be observed across the country and around the world tonight (Friday night), report agencies.
The Islamic Foundation has announced various programmes to mark the event as well.
The programmes including sermons, prayer meetings, recitations of the Holy Quran, and Hamd Naat - will be held at the Baitul Mukarram National Mosque.
At 6:35 pm today, Religious Affairs Advisor AFM Khalid Hossain will deliver a sermon on the topic of "Laylatul Baraat" in the light of the Quran and Hadith, the Islamic Foundation said in a press release.
Chief Advisor Muhammad Yunus has sent his greetings to the Muslim devotees of Bangladesh on the occasion of Shab-e-Barat.
Yunus said, "I extend my heartfelt congratulations to the Muslim community of Bangladesh and the world on the occasion of the holy Shab-e-Barat."
"This auspicious night brings the infinite mercy and blessings of the almighty Allah, the lord of the universe, to mankind. On this night, Allah shows the unparalleled glory of granting forgiveness and fulfilling prayers."
Meanwhile, the Dhaka Metropolitan Police has banned carrying and using all sorts of firecrackers and other explosives in the capital during Shab-e-Barat.
The 12-hour restriction will come into effect at 6pm on Friday and remain in force until 6am on Saturday, DMP Commissioner SM Sazzat Ali said in a media release on Thursday. The restrictions were imposed in accordance with Section 28 of the Dhaka Metropolitan Police Ordinance, 1976.
It is observed on the 15th night of Sha'ban, an important Arabic month in preparation for Ramadan.
Muslims observe the night offering extra prayers, reciting the Holy Quran and taking part in other religious rituals.