Bangladesh's first ever securitised zero coupon bond, serviced by the IPDC Bangladesh Ltd, got its first-year redemption Tuesday.
The cheque-awarding ceremony was held at IPDC premises with Industries Ministry Secretary and IPDC Chairman Nurul Amin in the chair.
The redemption cheques were distributed among the investors by a trustee of the Investment Corporation of Bangladesh. This first ever securitised bond was issued under the auspices of the World Bank's FIDP project and Bangladesh Bank back in November last year.
A total of 166,038 bonds were redeemed amounting to a total of Tk 166 million. The bonds are scheduled to retire completely on October 31, 2009.
Also present, among others, were Bangladesh Bank Executive Director Ziaul Hassan Siddiqui, SEC Executive Director Mansur Alam, ICB Managing Director Ziaul Haque Khondekar, IPDC Managing Director (current charge) Khan Tariqul Islam on the occasion.