Regulatory Alerts2023-09-17
Added
DMD Circular Letter No. 07: Trading of IRIDP-3 Social Impact Sukuk at negotiated price
The Department of Data Management of the Central Bank of Bangladesh directs all scheduled banks and financial institutions operating in Bangladesh to permit the trading of IRIDP-3 Social Impact Sukuk at a negotiated price in the secondary market. This authorization is granted because one-third of the underlying Priority-Based Rural Infrastructure Development Project-3 has been implemented, satisfying the conditions set forth in the prospectus issued on April 17, 2022. Previously, the sukuk, issued on April 20, 2022, with a rental rate of 4.75% per annum under the Istisna and Ijara modes, was restricted to trading only at its stated price.
Topics
islamic-finance
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