Second auction of Islamic Bond Sukuk will held on June 9

Sunbd Desk || Published: 2021-06-01 15:05:21 || Updated: 2021-06-01 15:05:21

For the second time, the Islamic bond Sukuk is going to be auctioned. The auction will be held for those who object to the profit of interest or savings certificates by keeping money in the bank. The auction of the five-year Bangladesh Government Investment Sukuk (Lease Sukuk) issue will be held next Wednesday (June 9) at the Islamic Securities Section of the Bangladesh Bank Head Office.

Through this, the government will raise Tk 4,000 crore for safe water supply projects across the country. Interested candidates can apply through any bank or financial institution.

The lease that will be issued this time will expire on December 29, 2025. Through this auction, Sukuk worth Tk four thousand crore will be issued for a period of five years. This information has been informed through a press release of Bangladesh Bank.

In a press release, Bangladesh Bank said that the rent / profit will be paid to the investors at the rate of 4.69 percent per annum on a semi-annual basis. Any domestic or foreign person or organization in the auction will be able to submit bids through any bank or financial institution located in Bangladesh, which has a current account with Bangladesh Bank.

Banks and financial institutions will be able to submit bids in the manner described in the auction notice on Wednesday (June 9) from 10 am to 12 noon for the purchase of Sukuk for themselves or for any client in multiples of Rs 10,000. Successful bidders will be notified by e-mail on the same day of the amount of sukuk allotted against their application.

The transaction will be completed on Thursday (June 10), the working day following the auction, by crediting the Al-Wadiyah or current account debit and securities accounts held by banks and financial institutions with Bangladesh Bank. Earlier, in the first phase, a face value lease of Rs 4,000 crore was issued for the project on December 26, 2020.

Sunbd/NJ

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