Islami Bank seeks Tk 100 billion in liquidity support from Bangladesh Bank
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Islami Bank Bangladesh PLC has sought Tk 100.00 billion in liquidity support from Bangladesh Bank to maintain stability amid withdrawals of large deposits following uncertainty surrounding recent changes in its top management.
Sources said the bank sought the support through a formal application on Monday, according to news portals.
Officials said depositors have withdrawn more than Tk 43.00 billion from the bank in five working days after the Eid-ul-Azha holidays.
The situation led to a significant decline in its cash position, which resulted in a severe decline in cash reserve ratio (CRR) maintenance.
Former Bangladesh Bank deputy governor Khurshid Alam was appointed as the chairman of the bank on May 24, following the resignation of former chairman Professor M Zubaidur Rahman. Later, a group of customers under different banners started staging protests against the appointment.