Merchant bank Sandhani Life Finance Limited (SLFL) has officially signed the trust deed for its first-ever mutual fund, the Sandhani AML SLFL Shariah Fund, with Bangladesh General Insurance Company PLC (BGIC).
The signing ceremony, held at BGIC’s head office on July 27, 2025, marked a major milestone for both institutions in expanding Shariah-compliant investment options in Bangladesh’s capital market.
The Trust Deed, approved by the Bangladesh Securities and Exchange Commission (BSEC) on July 13, 2025, was signed by SLFL Managing Director and CEO Muhammad Nazrul Islam and BGIC Managing Director and CEO Ahmed Saifuddin Chowdhury. Senior officials from both organizations were present during the formalization of the agreement.
With an initial target size of Tk 25 crore, the Sandhani AML SLFL Shariah Fund will be SLFL’s first Shariah-compliant mutual fund and will be managed by Sandhani Asset Management Limited (Sandhani AML).
This move represents a strategic shift towards offering investment opportunities aligned with Islamic principles. The fund is designed to deliver superior risk-adjusted returns to investors seeking Shariah-compliant investment options.
Sandhani AML, known for managing the Sandhani AML SLIC Fixed Income Fund (with an asset under management exceeding Tk 100 crore), will leverage its expertise in managing the new Shariah-compliant fund. The fund will be accessible via conventional and digital distribution channels to cater to the growing demand for Shariah-compliant investments, according to a press release.
The signing ceremony was attended by SLFL Chairman Col. Wais Huda (Retd.), BGIC Financial Consultant Anisuz Zaman Chowdhury, FCA, and other key stakeholders. This partnership is seen as a significant step toward fostering Shariah-based investments and further advancing the development of Bangladesh’s financial sector.