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redeemable with tenures ranging from one and a half years to five years. Institutional investors, corporates and high net worth individuals will be eligible to purchase this bond in multiples of Tk 1 crore.

RSA Advisory is acting as a lead arranger while MTB Capital as trustee.

“Clients’ savings and bank borrowings were the main source of funds for Brac microfinance.

Now bond issuance also comes as an alternative source of funding for the microcredit institutions,” said Bhowmik.

He expected that the bonds would open up avenues for non-lender institutions to invest in Brac’s microfinance programme.

It is a great recognition for the microfinance sector, he said, expressing gratitude to all regulatory bodies for the cooperation along the way, he added.

The bonds will help improve the livelihoods of people, who need access to affordable financial solutions, especially in marginalised communities, in a more efficient way, said Brac.