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Bangladesh Export Import Company Limited (Beximco) and Investment Corporation of Bangladesh (ICB) signed a Trust Deed in relation to the issuance of Bangladesh’s first ever Corporate Sukuk, i.e. Beximco Green-Sukuk al-Istisna’a.
According to a release, the ICB will act as the Trustee to the 3,000 crore taka Green-Sukuk through the deed, which has recently got approval from Bangladesh Securities and Exchange Commission (SEC).
The signing ceremony was held at Beximco Limited’s Corporate Office in Dhanmondi yesterday, it said.
Managing Director of Beximco Limited O K Chowdhury and Managing Director of ICB Md Abul Hossain signed the contract on behalf of their respective sides.
Managing Director of Beximco’s solar business M Rafiqul Islam, Executive Director of Beximco Limited Mostafa Zaman ul Bahar and Managing Director of City Bank Capital Resources Limited Ershad Hossain were present at the function.
The deed will pave the way for successful issuance of Beximco Green Sukuk al-Istisna’a. It will bring a new dawn of long-term financing for the private sector in the country.
After signing the deed both the organizations agreed to work together to make the Sukuk issuance successful, the release added.
(BSS)
