Bangladesh Bank has taken initiative to amend some sections of Islamic bond rules in a bid to make it more attractive.

BB officials, chaired by executive director SK Sur Chowdhury, yesterday sat with the CEOs of the Islamic banks at the BB headquarters to obtain opinions from them, said BB sources. The chief executives, however, said they will put their opinion to the Central Bank following a discussion at the Central Shariah Board.

An official who attended the meeting said Islamic bond rules need to update to make it more attractive. If the rule is amended no money in the Islamic banks will lie idle and they themselves will be the best beneficiaries of the amendment.

BB will send a letter seeking opinion on the amendment this week. And they will get one month to send opinions which will be sent to the Ministry of Finance later for taking final decision with respect to the issue, he also informed.

 News: Daily Sun/ Bangladesh/ Aug-02-2011