Dhaka, May 19 -- The auction for the 6th government investment Sukuk (Islamic bond) of Bangladesh was held at the Debt Management Department of Bangladesh Bank's Head Office on Monday.

This Sukuk has been issued to fund the "Widening and Strengthening of Important Upazila and Union Roads in Rajshahi Division Project" and is a seven-year Ijara Sukuk (lease-based Islamic bond) with an annual rental yield of 10.50 percent. The total issue size was Tk 2,000 crore.

Investors submitted bids totaling Tk 8,347.609 crore, more than 4.17 times the announced amount, resulting in allocating to investors on a pro-rata basis.

This marks the sixth Sukuk issuance by the government. Over the past few years, the government has raised a total of Tk 22,00...