BB extends Sukuk investment for renewable energy
The Bangladesh Bank (BB) has extended till 31 December 2028 the tenure of the capital market special fund for investment in green Sukuk bonds to finance renewable energy.
On Monday, the central bank issued a circular in this regard.
Beximco Limited, a listed company, is issuing a Sukuk on the stock market. Through this, the company will raise Tk3,000 crore, which will be invested in renewable energy and environment-friendly industries.
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Earlier, in February 2020, the central bank had issued a circular allowing banks to set up a low-interest fund of Tk200 crore to increase the supply of funds to the capital market in the wake of the Covid-19 pandemic.
According to the circular, the special fund for investment in all types of securities approved by the Bangladesh Securities and Exchange Commission (BSEC) was scheduled to run until February 2025.
According to the new circular, investment in Sukuk bonds issued only for investment in renewable energy till 2028 will not be counted in banks' capital market investment limits.
