Bangladesh Securities and Exchange Commission (BSEC) has granted its consent to Islami Bank Bangladesh for the issuance of its fifth Mudaraba redeemable non-convertible subordinated bond, valued at Tk500 crore.
According to a disclosure published on the Dhaka Stock Exchange (DSE) website on Sunday (1 December), the Shariah-compliant bank aims to utilise the bond proceeds to enhance its Tier 2 capital and fortify its overall capital base.
It follows an earlier announcement on 19 September 2024, revising the bond issuance amount to Tk500 crore.
The bond will consist of 10,000 units, each priced at Tk500,000. Issued through private placement, it will be unsecured, non-convertible, redeemable, and compliant with BASEL III regulatory standards, as per the bank's statement on the DSE.
