Ṣukūk in Bangladesh

Abstract

Ṣukūk is a new method of financing for both the government and business sector in Bangladesh. By utilizing a descriptive approach, our investigation seeks to ascertain the prospects and outlines the challenges of ṣukūk market in Bangladesh. The primary goal of this article is to investigate domestic legal structure of Bangladesh’s ṣukūk market. The conditions for issuing ṣukūk have already been established by the presence of a large Muslim population, a stable macroeconomic environment, sufficient foreign exchange reserves, and remittances. The findings suggest that there is significant potential for ṣukūk in the country, but it requires a concerted effort from the government, regulators, and market players to overcome the challenges and promote the growth of the market. Finally, this paper provides recommendations for policymakers and market participants to foster the development of the ṣukūk market in Bangladesh.