Regulatory Alerts2014-09-01
Added · Updated
DMD Circular No. 05: Circular regarding Bangladesh Govt. Islami Bond (Islami Bond) Rules-2004 (Amended-2014)
The Government of Bangladesh issues the amended Islami Bond Rules-2004 under the Public Debt Act 1944, effective immediately, to govern the issuance, sale, and management of Islamic Investment Bonds. The rules define eligible buyers, including resident and non-resident entities, and restrict auction participation to Shariah-compliant banks and financial institutions. Issuance occurs via open auction based on Profit Sharing Ratio (PSR), with bonds available in 3-month and 6-month tenors. The proceeds are invested in Shariah-compliant instruments, and profits are distributed to bondholders according to the PSR, with final adjustments made by March 1 of the following year.
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