The purpose of the issue is to disburse microfinance and finance for the environment
The Bangladesh Securities and Exchange Commission (BSEC) on Wednesday approved a fully redeemable, non-convertible, green zero-coupon bond of Tk100 crore in favor of SAJIDA Foundation, an NGO that works to improve health outcomes among the country's poor.
The stock market regulator gave its nod at a meeting held at its headquarters, presided by the commission chairman Prof Shibli Rubaiyat-Ul Islam, said a BSEC statement.
The purpose of the issue is to disburse microfinance and finance for the environment.
The tenure of the bond will be two years.
Per unit price has been fixed at Tk10 lakh.
The units will be sold to financial institutions, insurance companies, corporate bodies, asset management companies and high net-worth individuals through private placements.
Sena Kalyan Insurance will act as the trustee and Standard Chartered Bank as arranger for the bond.
SAJIDA Foundation began in 1987 as a small garage school for disadvantaged children and since then, have grown exponentially.
The NGO offers a diverse portfolio of microcredit products alongside quality healthcare services and various social development programs for six million patrons, working across 25 districts, with a dedicated team of 3,496 caring change makers.