Saturday, 24th February, 2024
Saturday, 24th February, 2024

Salman for introduction of ‘Sukuk Bond’ as new financial investment tool

Prime Minister’s Private Industry and
Investment Adviser Salman Fazlur Rahman today highly encouraged the
introduction of ‘Sukuk Bond’ in Bangladesh market as a new investment

“The treasury bonds will be listed very soon and a huge number of bonds
are coming and being listed into the market. Lots of corporate houses are
also looking at the different,” he said while addressing as the chief guest
at a virtual roundtable discussion on “Sukuk Bond: A new frontier for
financing instruments in Bangladesh”, said a press release.

Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) and City Bank
Capital organised the dialogue.

Salman mentioned that there is a huge demand, requirement and acceptance
of Islamic Financing in Bangladesh as this is a country with majority
population who are Muslim.

He also added that the government is also looking and reforming at the
Bankruptcy Law, Company Act etc.

“The laws are being amended, being reviewed and new laws are being framed.
Hence, this is the right time to take initiatives on how to bring Islamic
Financing and Sukuk in the market,” he added.

High Commissioner of Malaysia to Bangladesh Haznah Md Hashim also spoke on
the occasion.

In her speech, she said that Malaysia has been rising as global leader in
Islamic banking and finance for several decades and maintained its position
as the world’s top issuer of sukuk loans.

Sukuk issuance can create opportunities for investors from Malaysia to look
into Bangladesh as another potential investment destination, she added. She
mentioned that the world is facing an unprecedented crisis in the wake of the
current COVID-19 pandemic.

BMCCI President Raquib Mohammad Fakhrul (Rocky) acted as the chairperson in
the roundtable discussion.

Raquib Mohammad mentioned that Sukuk is becoming an important asset class
for investors from both conventional and Islamic backgrounds.

By the same token, it is also attracting the attention of sovereign,
multilateral and corporate issuers worldwide, he added.

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