Beximco, ICB sign trust deed

Date: July 17, 2021

Source: The Daily Financial Express


Bangladesh Export Import Company Limited (Beximco) and Investment Corporation of Bangladesh (ICB) have signed a Trust Deed on issuance of Bangladesh's first ever Corporate Sukuk, i.e. Beximco Green-Sukuk al-Istisna'a.

Under this deed, ICB will act as a trustee to the Tk 30 billion Green-Sukuk, which recently got approval from Bangladesh Securities & Exchange Commission (BSEC), said a statement.

A Signing Ceremony washeld in this regard at Beximco Limited's Corporate Office in Dhanmondi, Dhaka. Managing Director of Beximco Limited, Mr. O K Chowdhuryand Managing Director of ICB, Mr. Md.Abul Hossain signed the contract for respective parties.Mr. M Rafiqul Islam- Managing Director of Beximco's solar business, Mr. MostafaZamanulBahar - Executive Director of Beximco Limited and Mr. Ershad Hossain, Managing Director of City Bank Capital Resources Limited (the Issue Manager) were among the high officials present from both the organizationand Issue Manager at the ceremony.

This deed will pave the way for successful issuance of Beximco Green Sukuk al-Istisna'a. It will bring a new dawn of long-term financing for the private sector in Bangladesh.Both the organizations agreed to work in close collaboration to make this Sukuk issuance successful.