trending Market Intelligence /marketintelligence/en/news-insights/trending/NxJJXE5cKsQGhcIzWPwL0A2 content esgSubNav
In This List

Investment Corporation of Bangladesh looks to resume 50B taka unit fund

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Investment Corporation of Bangladesh looks to resume 50B taka unit fund

Investment Corporation of Bangladesh plans to resume full operation of the country's largest-ever unit fund, while also opening it up to all investors, The Financial Express reported Sept. 25, citing Md. Abul Hossain, managing director of the government's investment arm.

The state-run entity plans to open up the purchase of units in ICB Unit Fund to all investors in order to mobilize more funds for the capital market, Md. Abul Hossain said, noting that the move is subject to approval from Bangladesh's securities regulator.

The sale of units in ICB Unit Fund, which is currently about 50 billion taka in size, had stopped due to a condition of a development agreement with Asian Development Bank. Under the current system, existing unitholders of the fund can surrender their units to the ICB, but none are allowed to purchase units of the fund.

A top official of the Bangladesh Securities and Exchange Commission said the country's government is positive on the proposal to restore the sale of units of ICB Unit Fund, the publication reported.

As of Sept. 23, US$1 was equivalent to 84.37 Bangladeshi taka.