Press Release

Bangladesh's First Orange Bond: Where Financial Returns Meet Gender Justice

BSEC Grants Approval to SAJIDA Foundation for BDT 1,585 Million Orange Zero-Coupon Bond

Dhaka, Bangladesh — The Bangladesh Securities and Exchange Commission (BSEC) has granted regulatory approval to SAJIDA Foundation to issue Bangladesh's first-ever Orange Bond. The Foundation will raise BDT 1,585 million through a Zero-Coupon Bond exclusively structured to mobilize gender-intentional and inclusive capital, and accelerate progress towards attaining SDG 5 (Gender Equality).

The transaction is the result of bold, coordinated action by SAJIDA Foundation, BRAC EPL Investments Limited, Impact Investment Exchange, Microcredit Regulatory Authority, and BSEC.

A Market-Deepening Transaction

Bangladesh's bond market has long been dominated by government securities and bank subordinated debt. This transaction breaks that mold by introducing thematic, impact-linked fixed income as a new asset class. This landmark issuance marks a major milestone in Bangladesh’s capital market evolution, translating decades of development impact and groundwork into a market-based instrument aligned with international best practices. The pioneering Orange bond supports the transition toward a more inclusive, resilient, and capital market-driven development finance solutions, and contributes to broader efforts to develop the impact investment ecosystem in Bangladesh.

A Bond that pays beyond just financial returns

Investors receive a competitively priced, tax-exempted fixed-income financial return through a reputable Issuer with a BDT 37,694 million loan portfolio, 772,026 active members, and a 51% stake in Renata PLC.

In addition to the financial returns, Investors will be able to track the positive impact of their investment in the lives and livelihoods of women and women-led businesses across the country. Through annual Impact Reports, independently verified under the ICMA-aligned Orange Bond Principles, Investors will receive a comprehensive report regarding the progress and implementation of the bond’s use of proceeds, which is earmarked to be deployed as: 48% to food security and agriculture; 32% to women-led SMEs; and 20% to climate-resilient housing across 36 districts. Every eligible loan is screened against a Women Impact Alignment framework ensuring direct, verifiable benefit to women's income, agency, and financial access.