Dhaka, Bangladesh (BBN)-Exim Bank Limited decided to issue mudaraba subordinated bond worth BDT 4.0 billion to consolidate their capital base in line with the Basel-II framework.
“The Board of Directors has accorded its approval for issuance of Mudaraba Subordinated Bond of BDT 4.0 billion only as a process of inclusion in Tier – II capital,” said an office disclosure on Sunday.
The bond issue is subject to the approval of Bangladesh Securities and Exchange Commission (BSEC), Bangladesh Bank and compliance of all formalities in this respect, the bank however said.
The bonds will be a period of seven years through private placement amongst institutions like banks, insurance companies and non-banking financial institutions.
Presently, the bank’s paid-up capital is BDT 14,122.5 million.
The bank was listed on the Dhaka Stock Exchange (DSE) in 2004 and belongs to the category of ‘A’.