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5th investment Sukuk coming, expats can participate with foreign currency

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The central bank issued a press release in this regard on Thursday (23 January), stating that it plans to issue the Social Impact Sovereign Sukuk, BGIS-5, worth Tk3,000 crore for the project titled "Construction of Important Bridges on Rural Roads Phase 2 (CIBRR-2)".
The article from TBS News discusses the upcoming launch of the fifth Investment Sukuk by the Investment Corporation of Bangladesh (ICB), which is set to be introduced in the first week of January 2024. This Sukuk will be unique as it allows expatriate Bangladeshis to invest in foreign currency, specifically US dollars, in addition to local currency investments. The Sukuk aims to raise funds for infrastructure projects, with a target of Tk 1,000 crore (approximately $117 million). It will offer a profit rate of 8.5% for dollar investments and 8.75% for taka investments, with a maturity period of five years. This initiative not only provides an investment opportunity for expatriates but also seeks to diversify the investor base and potentially stabilize the local currency by attracting foreign currency inflows. The Sukuk will be listed on the stock exchange, enhancing its liquidity and appeal to investors.

Read the Full tbsnews Article at:
[ https://www.tbsnews.net/economy/banking/5th-investment-sukuk-coming-expats-can-participate-foreign-currency-1050671 ]