The Bangladesh Bank is preparing to issue the 7th 'Bangladesh Government Investment Sukuk' (Islamic bond) valued at Tk 2,500 crore.
The Sukuk is aimed at funding the Important Rural Infrastructure Development Project for Noakhali, Feni, and Lakshmipur (IRIDPNFL) districts. This Islamic Shariah-compliant bond is expected to inject a major economic boost into the rural infrastructure of the country's south-eastern region.
The information was confirmed in a press release issued today (Tuesday), by Saida Khanam, Director (Ex-Cadre-Publication) of the Department of Communications and Publications and Assistant Spokesperson for the Bangladesh Bank.
The decision was finalized during the first meeting of the Shariah Advisory Committee, formed under the Deputy Governor and Debt Management Department, held at the central bank's head office on November 3. The meeting was chaired by Dr. Md. Kabir Ahammed, President of the Committee.
Type:The Sukuk will be issued under the Ijara (Leasing) method.
Value and Term: It will be valued at Tk2,500 crore with a maturity term of 7 years.
Name: The Sukuk has been named ‘IRIDPNFL Socio-Economic Development Sukuk’.
Timeline: The issuance is planned for December 2025.
The funds generated from this Sukuk will be utilized for the rural development of 20 upazilas across Noakhali, Feni, and Lakshmipur districts. The scope of work includes-Road development, widening, and rehabilitation. Slope protection work.
Infrastructure development for local markets (Haat-Bazaars) and tourism areas.
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The Bangladesh Bank noted that the successful implementation of the IRIDPNFL project is anticipated to:
Increase the flow of agricultural and non-agricultural economic activity. Improve the standard of living for the rural population. Generate new employment opportunities. Significantly reduce both transportation costs and time.
Prior to this, the Bangladesh Bank, acting as the Special Purpose Vehicle (SPV), had successfully issued a total of six Sukuks amounting to Tk 24,000 crore.