In order to fund social development initiatives, the government has chosen to issue another investment sukuk. Key infrastructure in the districts of Noakhali, Feni, and Lakshmipur will be built and enhanced with the help of this sukuk. This includes market and tourism infrastructure, road development, widening, rehabilitation, and slope protection.

On Tuesday, November 4, the Bangladesh Bank issued a press release announcing the decision. The Tk 2,500 crore sukuk will be issued using the ijarah (lease) mechanism and will be in effect for seven years.

According to the central bank, the decision was made at the first meeting of the Shariah Advisory Committee held on Sunday at Bangladesh Bank, chaired by Deputy Governor Dr. Md. Kabir Ahmed.

The release further stated that the sukuk will fund social development projects in 20 upazilas across the three districts, focusing on rural road development, widening, rehabilitation, slope protection, and market and tourism infrastructure improvement.

The sukuk is planned to be issued in December. So far, Bangladesh Bank has issued six sukuks worth a total of Tk 24,000 crore through Special Purpose Vehicles (SPVs).