UCB Investment closes Tk 500cr bond for Shahjalal Islami Bank

UCB Investment Limited has successfully closed the "SJIBL 3rd Mudaraba Subordinated Bond" worth Tk 500 crore, issued by Shahjalal Islami Bank PLC (SJIBL).

The bank marked the closing of this significant transaction with a ceremony held at its head office in the capital's Gulshan on Wednesday, according to a press release.

UCB Investment, recognised as the leading investment bank in Bangladesh, acted as the sole placement agent for the bond issuance.

The funds raised through this bond will strengthen the Tier-II capital of Shahjalal Islami Bank, facilitating the bank's expansion and growth.

Mohammed Younus, vice-chairman of the bank, Akkas Uddin Mollah, chairman of the executive committee, Nasir Uddin Ahmed, independent director and chairman of the audit committee, and Mosleh Uddin Ahmed, managing director and CEO, were present at the event.

Tanzim Alamgir, founding managing director and CEO of UCB Investment, and Abdul Aziz, additional managing director and chief business officer, and Md Jafar Sadeq, chief financial officer of the bank, along with other senior officials from both organisations, also attended the ceremony.