a year ago

BB suspends Islami Bank's loan disbursement of Tk 91.35b to 11 companies

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Bangladesh Bank (BB), in an immediate intervention, has suspended Islami Bank's loan disbursement of Tk 91.35 billion to 11 companies, including that of Nabil Group. 

Seeking anonymity, a BB official confirmed the development on Tuesday, saying that the central bank as part of its ongoing investigation instructed the bank to suspend the release of the loan amount to the firms until issuing any further notice regarding the matter. 

Without disclosing the names of all the firms, the official said their team inspected the bank and sought an explanation of the alleged irregularities before collecting the required documents with respect to loan approval procedures.

When contacted, BB spokesperson GM Abul Kalam Azad declined to make any comment regarding the issue.

Meanwhile, BB governor Abdur Rouf Talukder held a meeting with the high-ups of the government regarding loan-related irregularities. After that, Islami Bank managing director was summoned by the central bank where the BB probe team talked with the bank's top executive about the matter, sources at the BB said.

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