Bangladesh Export Import Company Limited (Beximco) and Investment Corporation of Bangladesh (ICB) have signed a Trust Deed in relation to the issuance of Bangladesh’s first ever Corporate Sukuk, i.e. Beximco Green-Sukuk al-Istisna’a.
Through this deed, ICB will act as the Trustee to the Tk 3,000 crore Green-Sukuk, which has recently got approval from Bangladesh Securities & Exchange Commission.
A Signing Ceremony was held in this regard at Beximco Limited’s Corporate Office in Dhanmondi, Dhaka.
Managing Director of Beximco Limited, Mr. O K Chowdhury and Managing Director of ICB Mr. Md. Abul Hossain signed the contract for their respective sides.
Mr. M Rafiqul Islam, Managing Director of Beximco’s solar business, Mr. Mostafa Zamanul Bahar, Executive Director of Beximco Limited and Mr. Ershad Hossain, Managing Director of City Bank Capital Resources Limited (the Issue Manager), were among the high officials present from both the organizations and Issue Manager at the ceremony.
This 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 Bangladesh.
Both the organizations agreed to work in close collaboration to make this Sukuk issuance successful.
