The listed SEML IBBL Shariah Fund has taken an initiative to convert the fund from a closed-ended to an open-ended fund, subject to approval from its unit holders.
A special general meeting (SGM) has been scheduled for October 27 to seek unit holders’ approval for the proposed conversion, according to information from the Dhaka Stock Exchange (DSE) on Sunday.
SEML, the fund’s asset manager, said the decision was taken in line with an order issued by the Bangladesh Securities and Exchange Commission (BSEC) on May 7, 2026, and a proposal to voluntarily convert the fund into an open-ended scheme.
According to the decision of the trustee committee, the SGM will be held at 11:00am on October 27 at Anchor Hall-02 of Rawa Convention Hall in Mohakhali, Dhaka.
The record date for determining eligible unit holders to participate in the meeting has been set for October 6. Trading of the fund’s units on the stock exchange will remain suspended from that date.
SEML said trading of the units will remain suspended from the record date until further instructions or a new announcement from the fund.
The conversion of SEML IBBL Shariah Fund into an open-ended fund is scheduled to take effect on October 8, 2026.
