Dhaka, Feb. 13 -- In a move to finance the second phase of a crucial rural bridge construction project, Bangladesh Bank has decided to issue an Islamic bond, or 'Sukuk', worth Tk 3,000 crore.

The decision was finalised during the first meeting of the Shariah Advisory Committee held on Thursday.

The seven-year Sukuk will be issued under the Islamic banking principles of Istisna and Ijara. Given its focus on social development, it has been named the 'Social Impact Sukuk'.

The initiative, spearheaded by Bangladesh Bank's Deputy Governor Md Kabir Ahmed, aims to finance the construction of 82 bridges across 58 upazilas in the eight divisions of the country.

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