Islami Bank receives another Tk2,500cr in liquidity support from cenbank

Acting managing director of Islami Bank Md Altaf Hossain has said the bank received another Tk2,500 crore in liquidity support from the central bank today (15 June). 

"We also received Tk2,500 crore in liquidity support from Bangladesh Bank yesterday. We have not yet had to use the funds received yesterday," he told reporters. 

Altaf said he hopes that customers who have withdrawn their deposits will regain confidence in the bank and return. 

The acting chief said the bank is already seeing signs of improving customer confidence. 

"We have just received information from one of the bank's major branches showing that the number of account closures has fallen by 75% compared to previous levels," he said.

Bangladesh Bank yesterday dissolved the board of Islami Bank Bangladesh, including Chairman Md Khurshid Alam, as the bank grappled with an acute liquidity crisis fuelled by deposit flight and growing uncertainty among customers.

To stabilise the situation, the regulator appointed its executive director, Mohammad Zahir Hussain, as administrator of the country's largest shariah-based bank.