B Mirror Report:  The Bangladesh government is set to launch its first-ever short-term government Sukuk, offering investors a Shariah-compliant investment opportunity with a 273-day tenure. Applications will open on Sunday, with a minimum investment of Tk 10,000.

According to Bangladesh Bank, the government aims to raise Tk 5,500 crore through the Bangladesh Government Investment Sukuk (BGIS), which will offer an annual profit rate of 9.36 percent. The Sukuk is based on the Ijara structure, with both the principal and profit to be paid at maturity.

Individuals, non-resident Bangladeshis, and institutional investors will be eligible to invest through banks and financial institutions. First-time investors will need to obtain a Sukuk Investor (SI) ID before applying.

Bangladesh Bank said the new short-term Sukuk will provide a safe Shariah-compliant investment option while helping the government meet its short-term financing needs. Since introducing government Sukuk in 2020, Bangladesh has raised Tk 42,400 crore through various Sukuk issuances.