The Bangladesh Securities and Exchange Commission (BSEC) has officially approved the issuance of the country’s first-ever Orange Bond, a landmark BDT 185.5 crore corporate bond by the SAJIDA Foundation.
The decision was finalized during the 1006th emergency commission meeting on Monday, presided over by BSEC Chairman Khondoker Rashed Maqsood. According to a press release issued after the meeting, the approval marks a significant shift toward gender-intentional and sustainable financing in the domestic capital market.
Bond Structure and Financial Terms
The newly approved “Sajida Orange Zero-Coupon Bond” is designed as a high-impact financial instrument with the following characteristics:
| Feature | Details |
| Type | Non-convertible, Unsecured, Fully Redeemable |
| Category | Orange Zero-Coupon Bond |
| Total Value | BDT 185.50 Crore |
| Tenure | 2 to 3 Years |
| Discount Rate | 7.00% – 11.50% |
| Face Value | BDT 3,33,333 per unit |
The bond will be issued through private placement, making it accessible to institutional investors and high-net-worth individuals (HNWIs). A key condition of the approval is that the bond must be listed on the Alternative Trading Board (ATB) for secondary market trading.
Driving Impact: Women’s Empowerment and Green Initiatives
The “Orange” designation refers to a growing global asset class focused on gender equality and women’s economic empowerment. SAJIDA Foundation plans to utilize the proceeds to:
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Strengthen Microfinance: Expand its existing microfinance portfolio to reach underserved communities.
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Financial Inclusion: Specifically target women entrepreneurs, providing them with the capital needed to scale their businesses.
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Environmental Support: Invest in eco-friendly initiatives and climate-resilient projects.
To ensure transparency and adherence to international standards, the foundation obtained a Second Party Opinion (SPO) from the Impact Investment Exchange (IIX), confirming that the funds will be managed according to strict environmental and social governance (ESG) criteria.
Key Partners
The issuance involves several major financial players in Bangladesh:
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Trustee: DBH Finance PLC
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Arranger: BRAC EPL Investments Limited
This issuance follows SAJIDA Foundation’s history of innovative financing, including the launch of the country’s first green zero-coupon bond in 2021. By introducing the Orange Bond, the foundation and BSEC aim to set a new standard for inclusive financial systems that bridge the gap between social impact and capital market growth.
