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Bangladesh Bank has provided Islami Bank Bangladesh Limited with BDT 2,500 crore as special assistance to resolve its liquidity crisis.
According to relevant sources, the central bank provided this financial assistance on Sunday (June 14).
It is learned that internal unrest arose following the appointment of Islami Bank’s new chairman after Eid. In protest, a series of programs continued under the banner of “Sachetan Grahok Forum” (Conscious Customer Forum). This led many customers to start withdrawing their deposits, creating a severe liquidity crisis in the bank.
Due to the situation, the bank failed to provide cash according to customer demand and also could not meet Bangladesh Bank’s prescribed Cash Reserve Ratio (CRR).
In this situation, Islami Bank sought approximately BDT 10,000 crore in liquidity support from the central bank last week. In response, BDT 2,500 crore has been provided for now.
Earlier, in a post-budget press conference, the Governor of Bangladesh Bank had hinted that Islami Bank’s liquidity crisis would soon be resolved and depositors would face no problems withdrawing their money.