Sukuk to aid dev work, says BSEC chief

The closing ceremony of a four-day long 'Workshop on Issuance and Management of Sukuk in Bangladesh' jointly organized by Central Shariah Board for Islamic Banks of Bangladesh (CSBIB) and International Shariah Research Academy for Islamic Finance (ISRA), Malaysia was held recently.

Chairman of Bangladesh Securities and Exchange Commission Prof. Shibli Rubayat Ul Islam was the chief guest in the ceremony. Chairman of Fiqh Committee of Central Shariah Board Principal Sayed Kamal Uddin Zafree was the chief discussant. Chairman of the Department of Research Development and Innovation of ISRA, Malaysia Dr. Said Bouheraoua was the international guest and speaker.

Special guests included- Shah Abdul Hannan, Advisor of Central Shariah Board and Former Deputy Governor of Bangladesh Bank, Chairman of Shari'ah Supervisory Committee of ICB Islamic Bank Limited Md. Fariduddin Ahmed, Managing Director of Social Islami Bank Limited Quazi Osman Ali.

Discussants as market leaders of the 4-day long workshop included: Managing Director of Islami Bank Md. Mahbub-ul-Alam, Managing Director of EXIM Bank Dr. Mohammed Haider Ali Miah, Managing Director of Al-Arafah Islami Bank Farman R Chowdhury, Managing Director of Shahjalal Islami Bank Muhammed Shahidul Islam, Managing Director of First Security Islami Bank Syed Waseque Md Ali and Managing Director of Islamic Finance and Investment Limited Abu Zafore Md. Saleh.

The trainers of the workshop included- researcher of ISRA Mezbah Uddin Ahmed, Executive Director of Bangladesh Bank Md. Abdul Awwal Sarker, Deputy Director of Bangladesh Securities and Exchange Commission Sk. Md. Lutful Kabir, Deputy General Manager of Bangladesh Bank Md. Golzare Nabi, Faculty Member of Bangladesh Institute of Bank Management (BIBM) Dr. M. Mahabbat Hossain and Secretary General of Central Shariah Board Md. Abdullah Sharif

Former Finance Secretary Arastoo Khan presided over the event while Central Shariah Board's Secretary General Md. Abdullah Sharif moderated it.

Chief guest Prof. Shibli Rubayat Ul Islalm said the government is going to introduce Sukuk. This is a very time-befitting step. Introduction of Sukuk will widely contribute to various development-oriented activities of Bangladesh.

Chairman of the event Arastoo Khan said Sukuk is a new product to the people of Bangladesh but if it is introduced by the Government of Bangladesh it will be able to gain confidence of them.

The sponsors of the workshop included: Islami Bank, Shahjalal Islami Bank, Al-Arafah Islami Bank, Pubali Bank, Standard Bank, Bank Asia and Social Islami Bank. ATN Bangla Television, The Financial Express and Daily Bonik Barta broadcasted and published special news highlighting the significance of the four-day event.