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DHAKA, Jan 22, 2025 (BSS) - Bangladesh Bank (BB) has re-fixed quotas for allocating sukuk among Shariah-based banks, financial institutions, insurance companies and individual investors.

To this end, the central bank today issued a circular.

As per the circular, 70 percent of the allocation would be for Shariah-based banks, financial institutions and insurance companies.

Ten percent will be allocated for Islamic branches and windows of conventional banks while 20 percent for individual investors, provident fund and deposit insurance.

A sukuk is a Shariah-compliant bond-like instrument used in Islamic finance. Bangladesh issued its first sovereign investment sukuk in December 2020.