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The Financial Express

Beximco Green Sukuk makes debut trading

| Updated: January 13, 2022 16:44:27


Beximco Green Sukuk makes debut trading

The country’s capital market on Thursday saw the trading of the first sukuk through the debut trading of Beximco Green Sukuk Al Istisna’a.

On the day, the trading of the Beximco’s sukuk commenced through a programme held at the DSE Tower in the capital.

Salman F Rahman, private industry and investment adviser to the prime minister and also vice chairman of Beximco Group, attended the programme as the chief guest.

The chairman of the Bangladesh Securities and Exchange Commission (BSEC) Prof Shibli Rubayat Ul Islam was present there as the special guest.

On July 8, 2021, BSEC accorded consent to Bangladesh Export Import Company (Beximco) as originator for issuance of Beximco Green Sukuk Bond of Tk 30 billion.

Of Tk 30 billion, Tk 7.50 billion was raised through IPO (initial public offering). As a result, the units worth Tk 7.50 billion will be available for trading on the bourses.

In his speech, Vice Chairman of the Beximco Group Mr Rahman said still the brokerage houses seemed like brokers due to lack of corporate practices.

“The brokerage houses will have to adopt corporate practices to be turned into institutes for the sake of restoring investors’ confidence,” Rahman said.

He said two problems of the country’s capital market are discussed everywhere.

“The problem is that the market is only equity-based. It’s a big weakness of the market, and taking this in view the securities regulator is working for the development of the debt market,” said the vice-chairman of the Beximco Group.

He also expressed hope on the future financing for the government’s large projects through bonds.

In his speech, Chairman of BSEC Prof Islam said his commission will continue its jobs for achieving new targets amid obstacles.

“Apart from the blue bonds and green bonds, the regulatory jobs for derivatives will be visible soon,” Prof Islam added.

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