MNA Business Desk: The first-ever Bangladeshi Taka-denominated bond titled “Bangla Bond” was listed on the London Stock Exchange (LSE) on Monday.
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’ event at the LSE.
Finance Minister AHM Mustafa Kamal highlighted the robust economic growth and major macro economic 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’s for further if 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 per cent annual rate of interest.
The IFC will be the 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 was followed by an ‘Investor’s Roundtable’ to showcase Bangladesh’s growth story and investment opportunities.
IFC and LSE jointly organisined the roundtable, said the Bangladesh High Commission in London.
The LSE will brief the media on the listing from 9:45am-10:15am on Monday.
Bangladesh Finance Minister, Prime Minister’s Private Sector Industry and Investment Advisor, IFC Vice-President for Asia and Pacific Nena Stoiljkovic, IFC Treasury Client Solutions Director Keshav Gaur and IFC South Asia Director Mengistu Alemayehu will speak at the press briefing, reports UNB.
Bangladesh High Commission is holding an investment seminar in the afternoon.