Salman F Rahman said there is a huge demand for Sukuk Bond in Bangladesh market

Salman F Rahman expressed enthusiasm for the introduction of ‘Sukuk Bond’ in Bangladesh market as a new investment equipment.

He was addressing a virtual roundtable on “Sukuk Bond: A new frontier for financing instruments in Bangladesh” organized by Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) and City Bank Capital. He said “The treasury bonds will be listed very soon and a huge number of bonds are coming and being listed into the market. Lots of corporate houses are also looking at the difference”.

Salman F Rahman, the Bangladeshi industrialist and philanthropist, is holding the rank of a cabinet minister and serving as the Private Sector Industry and Investment Adviser to Honorable Prime Minister Sheikh Hasina. He is the co-founder and vice chairman of Beximco Group, one of the largest business conglomerates in Bangladesh.

Salman F Rahman mentioned that there is a huge demand, requirement and acceptance of Islamic Financing in Bangladesh as this is a country with a majority population who are Muslim. He added that the government is also bringing amendments to the Bankruptcy Law and the Company Act. “The laws are being amended, being reviewed and new laws are being framed. Hence, this is the right time to take initiatives on how to bring Islamic Financing and Sukuk in the market,” he said.

 

BMCCI President Raquib Mohammad Fakhrul, chairing the session, mentioned that Sukuk is becoming an important asset class for investors from both conventional and Islamic backgrounds. By the same token, it is also attracting the attention of sovereign, multilateral and corporate issuers worldwide, he added. High Commissioner of Malaysia to Bangladesh Haznah Md Hashim also spoke on the occasion. In her speech, she said that Malaysia has been rising as a global leader in Islamic banking and finance for several decades and maintained its position as the world’s top issuer of sukuk loans. Sukuk issuance can create opportunities for investors from Malaysia to look into Bangladesh as another potential investment destination, she added. She mentioned that the world is facing an unprecedented crisis in the wake of the current Covid-19 pandemic.