Dhaka, May 14 -- The Shariah compliance government bonds 'Sukuk' gets popularity among the investors in Bangladesh as 12.30 times oversubscribed for its 8th draw.

The auction for 8th Bangladesh Government Investment Sukuk (CIBRR-1), aimed at constructing important bridges on rural roads, witnessed this massive response today (Thursday).

The Debt Management Department of Bangladesh Bank organised the auction, which offered a 7-year Shariah-compliant 'Ijarah Sukuk' with a face value of Tk 5,900 crore at an annual rental rate of 10.40 percent.

According to Bangladesh Bank, Shariah-based banks, financial institutions, Islamic windows of conventional banks, individual investors, and provident funds submitted bids totaling Tk 72,597.94 crore...