The Bangladesh government is going to issue the seventh ‘Bangladesh Government Investment Sukuk’ soon to finance the development of important rural infrastructure in Noakhali, Feni and Lakshmipur districts.
A press release from Bangladesh Bank on Tuesday (November 4) said that the decision to issue this sukuk with a tenor of Tk2,500 crore has been taken against the ‘Important Rural Infrastructure Development Project of Noakhali, Feni and Lakshmipur Districts (IRIDPNFL)’ through Shariah-compliant Ijarah method.
The decision was taken at the first meeting of the committee chaired by Md Kabir Ahmed, chairman of the Shariah Advisory Committee formed under the supervision of the deputy governor of Bangladesh Bank.
The release further informed that there is a plan to issue the sukuk in question in December 2025.
If the project is implemented, it will be possible to develop, widen, rehabilitate, protect slopes and develop infrastructure in 20 upazilas of the district.
Bangladesh Bank said that this sukuk will create significant opportunities for accelerating the pace of the agricultural and non-agricultural economy, improving the quality of life of the rural people, creating employment and reducing transportation costs and time.
For this reason, the sukuk has been named ‘IRIDPNFL Socio-Economic Development Sukuk’.
It is worth noting that Bangladesh Bank has already issued six government sukuk worth a total of Tk24,000 crore as Special Purpose Vehicles (SPVs).
