SAM

Published:
2019-11-11 11:48:53 BdST

BD to launch taka bond on London bourse today


FT ONLINE

The first-ever Bangladeshi Taka-denominated bond titled "Bangla Bond" was listed on the London Stock Exchange (LSE) on Monday which will help Bangladesh raise money from overseas investment. 

The International Finance Corporation (IFC), a sister concern of the World Bank, floated the bond, said the Bangladesh High Commission in London on Monday.     

Finance Minister AHM Mustafa Kamal, Prime Minister’s Private Sector Industry and Investment Adviser Salman F Rahman and Bangladesh High Commissioner to the UK Saida Muna Tasneem attended the enlistment ceremony 'The Ring, The Bell' at the LSE.

Finance Minister Kamal highlighted the robust economic growth and major macroeconomic development in Bangladesh under the leadership of Prime Minister Sheikh Hasina.

He hoped that "Bangla Bond" would help raise money from overseas investment which will be invested back in Bangladesh for further strengthening its private sector.

A large number of UK government and IFC officials and investors from the UK and Bangladesh were present.

Initially, the Bangla Bond is equivalent to US$10 million on the London bourse and it will have a three-year maturity, with a 6.3 percent annual rate of interest.

The IFC isthe guarantor of Bangla Bond in the international market.

The proceeds from this bond in the European market will be invested back in Bangladesh for development of its private sector.

"The Ring, The Bell" ceremony is scheduled to be followed by an 'Investor's Roundtable' to showcase Bangladesh's growth story and investment opportunities.

IFC and LSE will jointly organisine the roundtable, said the Bangladesh High Commission in London.

Bangladesh Finance Minister, Prime Minister’s Private Sector Industry and Investment Advisor, IFC Vice-President for Asia and Pacific NenaStoiljkovic, IFC Treasury Client Solutions Director Keshav Gaur and IFC South Asia Director MengistuAlemayehu will speak at the press briefing scheduled to be held later today (Monday).

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