SAJIDA Foundation gets approval to issue Tk100cr green bond

After receiving approval from Bangladesh Securities Exchange Commission, SAJIDA Foundation has now received approval from Microcredit Regulatory Authority to issue a Tk100 crore green bond.

Md Fashiullah, Executive Vice-Chairman of Microcredit Regulatory Authority (MRA) handed over the approval documents to Zahida Fizza Kabir, Chief Executive Officer of SAJIDA Foundation and SN Kairy, Senior Advisor of SAJIDA Foundation, said a press release.  

Earlier in May, SAJIDA received approval for the first ever green bond from the Bangladesh Securities and Exchange Commission (BSEC).

The value of the bond is Tk100 crore for a tenure of two years, which is unsecured, non-convertible, and fully redeemable. I It will also use the funds for ensuring environmental development.

A green bond is a fixed-income instrument specifically earmarked to raise money for climate and environmental projects. By issuing this bond, SAJIDA Foundation will enhance its micro credit operations across the country and catalyse climate friendly initiatives.

"We thank MRA for supporting our initiative. This instrument will enable us to grow our operations and support sustainable initiatives in the areas of agriculture, sanitation and renewable energy", said Zahida Fizza Kabir, CEO of SAJIDA Foundation.

SAJIDA Foundation is a value-driven non-government organisation that embodies the principle of corporate philanthropy, with 51% shareholding at Renata Ltd.

The organisation was founded by Syed Humayun Kabir in 1993, with a vision of bringing health, happiness, and dignity for people from all. SAJIDA's portfolio consists of community centric and evidence-based programs focusing on healthcare, mental health, urban poverty alleviation and financial services.