Regulatory Alerts2023-08-27
Added
DMD Circular Letter No. 06: Regarding Sukuk Allotment Quota
The document mandates specific allotment quotas for investors in the issuance of Bangladesh Government Investment Sukuk, allocating 85% to Shariah-based banks, financial institutions, and insurance companies, 10% to Islamic branches and windows of conventional banks, and 5% to individual investors, provident funds, and deposit insurance. It establishes pro-rata distribution mechanisms for oversubscribed or undersubscribed categories and allows conventional banks, financial institutions, and insurance companies participating in the auction to receive any remaining Sukuk if the three specified categories do not meet their required subscription levels. These instructions take immediate effect.
Topics
islamic-finance
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