Type to search

BB disburses Tk4000 crore as liquidity support to 5 Islami banks

Loan Scams

BB disburses Tk4000 crore as liquidity support to 5 Islami banks


Bangladesh Bank on Wednesday disbursed Tk4000 crore as liquidity support to five Islami banks to meet ongoing liquidity crisis, sources in the central bank said. 

Five Islami banks had earlier applied to the Bangladesh Bank, seeking liquidity support, and they are Islami Bank Bangladesh Limited, Union Bank, Social Islami Bank, First Security Islami Bank and Global Islami Bank. The five banks belong to S Alam group. 

Central bank’s spokesperson Mezbaul Haque told the media that it was decided to pay Tk4,000 crore against Sukuk bond facility. 

Islami banks can take more money, if required, under Sukuk bond facility, he said. 

While BB Governor and Managing Directors of five Islami banks have denied the liquidity crisis in their respective banks, the liquidity shortage is still hampering the daily transaction, sources said. 

On Monday, the Islami Bank Bangladesh Ltd’s deposits fell to Tk1,46,964 crore. 

On October 31, the deposit of the bank was Tk1,53,272 crore. 

After the recent loan scam over Tk34,000 crore, a group of people withdrew their deposits from the bank, which is also another reason for the liquidity crisis, he said preferring anonymity. 

In this context, five Islami banks have suddenly faced a liquidity crisis and are struggling to meet demand for regular transactions. Officials say the central bank has taken the special initiative to lend money to these banks to keep them afloat. 

Bangladesh Bank has launched an investigation to look into the scam. 

The High…

Read more…

Leave a Comment

Your email address will not be published. Required fields are marked *