Regulatory Alerts2020-10-21
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DMD Circular No. 05: Guidelines on Sukuk Issue and Management under Shariah Based Investment Contract
The Ministry of Finance issues the Bangladesh Government Investment Sukuk, 2020 guidelines to expand Shariah-based financing for national development programs. The document establishes the roles of the Originator (Ministry of Finance), Special Purpose Vehicle (SPV), Trustee, and the Shariah Advisory Committee, while defining eligibility for resident and non-resident investors. It mandates that sukuk be issued in Bangladeshi Taka with a minimum bid of 10,000 Taka, settles transactions on a T+1 basis, and allows for secondary market trading and shelf issues under operational directives.
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