Beximco Ltd is set to issue sukuk, a Shariah-compliant debt instrument, worth Tk 30 billion, the biggest offer by any private company in Bangladesh.
Published : 03 Mar 2021, 12:35 PM
The proceeds from the sukuk, maturing in five years, will also be used to finance the machinery and equipment required for the expansion of Beximco's textile division.
A sukuk is a bond that conforms to Islamic strictures on the prohibition of charging or paying interest.
Each sukuk will be valued at Tk 100 on the capital market, subject to the approval of the Securities and Exchange Commission.