Sammilito Islami Bank PLC has made a significant investment of Tk 10,000 crore in the Bangladesh Government Special Sukuk-1, marking the largest single investment by any individual bank in government-issued Sukuk so far, according to a press release.
The investment was formally completed at a ceremony held today, where Bangladesh Bank Deputy Governor Dr Md Habibur Rahman handed over the Sukuk issuance certificate to the Chairman of Sammilito Islami Bank PLC, Dr Mohammad Ayub Miah. Senior officials from Bangladesh Bank’s Debt Management Department and representatives of Sammilito Islami Bank were present at the event.
The Shariah-compliant Sukuk was issued through private placement and is backed by specific government assets. These include seven housing projects for government employees developed by the Public Works Department, as well as designated railway services operated by Bangladesh Railway.
According to the bank, the investment offers several strategic benefits. The Sukuk qualifies for maintaining the Statutory Liquidity Ratio (SLR) and can also be used to obtain liquidity support from Bangladesh Bank when needed.
In addition, the Sukuk is a tradable security, allowing ownership to be transferred at any time through the bank’s management. Sammilito Islami Bank will receive half-yearly profit payments at a rate of 9.72% from this investment.