POST TIME: 14 January, 2022 08:21:28 AM / LAST MODIFIED: 14 January, 2022 01:22:59 PM
Beximco Green Sukuk trading starts
BSS, Dhaka

Beximco Green Sukuk trading starts

For the first time, Beximco Green Sukuk Bond, an Islamic Sharia-based bond, has started trading in the country's capital market. The trading of the Beximco's sukuk on Thursday started through a programme held at the DSE Tower in the city.

Salman F Rahman, private industry and investment adviser to the prime minister, and also vice chairman of Beximco Group, attended the programme as the chief guest while Chairman of the Bangladesh Securities and Exchange Commission (BSEC) Prof Shibli Rubayat Ul Islam was present there as the special guest.

On July 8, 2021, BSEC accorded consent to Beximco as originator for issuance of Beximco Green Sukuk Bond of Tk 30 billion. Of Tk 30 billion, Tk 7.50 billion was raised through IPO (initial public offering).

As a result, the units worth Tk 7.50 billion will be available for trading on the bourses. In his speech, Salman F Rahman said still the brokerage houses seemed like brokers due to lack of corporate practices.

"The brokerage houses will have to adopt corporate practices to be turned into institutes for the sake of restoring investors' confidence," he added. He said two problems of the country's capital market are discussed everywhere.

"The problem is that the market is only equity-based. It's a big weakness of the market, and taking this in view the securities regulator is working for the development of the debt market," said the vice-chairman of the Beximco Group.

He also expressed hope on the future financing for the government's large projects through bonds. In his speech, Chairman of BSEC Prof Islam said BSEC will continue its jobs for achieving new targets amid obstacles.

"Apart from the blue bonds and green bonds, the regulatory jobs for derivatives will be visible soon," he added.