The securities regulator has approved the draft prospectus of Shanta Amanah Shariah Fund, an open-end mutual fund (MF).
The approval came at a meeting at the office of the Bangladesh Securities and Exchange Commission (BSEC) on Tuesday.
The initial size of the fund will be Tk 300 million. The sponsor will contribute Tk 30 million and the remaining Tk 270 million will be collected through selling the MF units.
The offer price of the units of Shanta Amanah Shariah Fund will be Tk 10 each.
Shanta Asset Management Limited is the sponsor and fund manager of the Shanta Amanah Shariah Fund.
Investment Corporation of Bangladesh (ICB) is working as the trustee and custodian of the fund.
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