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Price fall in large-cap drives stocks down

Business Desk: Country’s both the bourses– Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) – on Thursday plunged due to mainly price fall in large-cap securities. DSEX, the broad index of the Dhaka...

Tk3,000cr 5th investment Sukuk auction on 12 March Business Reporter The central bank is set to hold the auction for Tk3,000 crore 5th Bangladesh Government Investment Sukuk (BGIS) on 12 March this year. The Social Impact Sovereign Sukuk, BGIS-5, will be issued for the project titled “Construction of Important Bridges on Rural Roads Phase 2 (CIBRR-2)”, according to a Shariah proclamation signed by the Shariah Advisory Committee of the Bangladesh Bank on Thursday. Investors will enjoy a 9.25 percent profit annually against using the sukuk asset, reads a press statement issued in this regard. The investors will receive the interest twice a year for the seven-year Sukuk. According to the proclamation, the Sukuk will allocate 70 percent of its total value to Shariah-based banks, financial institutions, and insurance companies. Another 10percent will be allocated to the Islamic branches and windows of conventional banks, while the remaining 20percent will be reserved for individual investors, provident funds, deposit insurance schemes, and others. However, if the required subscription is not met within these categories, the remaining sukuk will be redistributed proportionally, said the release. The release also stated that resident individual investors can invest through their local bank accounts. Non-resident individuals or institutional investors can participate using non-resident foreign currency accounts or non-resident taka accounts with any bank operating in Bangladesh.

Tk3,000cr 5th investment Sukuk auction on 12 March Business Reporter The central bank is set to hold the auction for Tk3,000 crore 5th Bangladesh Government Investment Sukuk (BGIS) on 12 March this year. The Social Impact Sovereign Sukuk, BGIS-5, will be issued for the project titled “Construction of Important Bridges on Rural Roads Phase 2 (CIBRR-2)”, according to a Shariah proclamation signed by the Shariah Advisory Committee of the Bangladesh Bank on Thursday. Investors will enjoy a 9.25 percent profit annually against using the sukuk asset, reads a press statement issued in this regard. The investors will receive the interest twice a year for the seven-year Sukuk. According to the proclamation, the Sukuk will allocate 70 percent of its total value to Shariah-based banks, financial institutions, and insurance companies. Another 10percent will be allocated to the Islamic branches and windows of conventional banks, while the remaining 20percent will be reserved for individual investors, provident funds, deposit insurance schemes, and others. However, if the required subscription is not met within these categories, the remaining sukuk will be redistributed proportionally, said the release. The release also stated that resident individual investors can invest through their local bank accounts. Non-resident individuals or institutional investors can participate using non-resident foreign currency accounts or non-resident taka accounts with any bank operating in Bangladesh.

Business Reporter: The central bank is set to hold the auction for Tk3,000 crore 5th Bangladesh Government Investment Sukuk (BGIS) on 12 March this year. The Social Impact Sovereign Sukuk, BGIS-5, will be issued...

20 SEZs in 20 years: BEZA

Staff Reporter: Bangladesh Economic Zones Authority (BEZA) is planning to implement 20 Special Economic Zones (SEZs) within 20 years under three phases. The information was revealed today at a national workshop on “Economic Zone...

Online platform for companies with AEO status

Online platform for companies with AEO status

Staff Reporter: The National Board of Revenue (NBR) on Sunday launched an online import-export hub to enhance the ease of doing business as part of its automation efforts to provide customs and tariff-related information...

Stocks maintain gaining streak

Stocks maintain gaining streak

Business Desk: Country’s both the bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) on Sunday also witnessed an upward trend like earlier as investors continued their buying spree on large-cap issues amid...