The Shariah Advisory Committee of the Bangladesh Bank decided on Wednesday to issue the 6th Bangladesh Government Investment Sukuk, worth Tk 2,000 crore, next month for a project titled "Rajshahi Division Important Upazila and Union Road Widening and Strengthening Project (RDIRWSP)".

In a statement, the central bank said committee members had unanimously decided that a sukuk with a 7-year term would be issued under the Islamic financial structure of Istisna'a and Ijarah, with the issuance set for May.

A sukuk is a financial certificate similar to a treasury bond and is structured to generate returns in compliance with Islamic finance principles.

The funds will be used for a socially beneficial development project aimed at improving rural road infrastructure across 65 upazilas in 8 districts of the Rajshahi Division. Once implemented, the project is expected to enhance the capacity and safety of rural roads in the project area.

"It will also help ensure fair pricing for agricultural and non-agricultural products, expand agricultural production and marketing facilities, and create both short- and long-term employment opportunities," a central bank statement read.

It added that the sukuk has been named the "RDIRWSP Socio-Economic Development Sukuk."