ET Desk: Islami Bank Bangladesh has returned nearly 1500 crore taka of the money taken from Bangladesh Bank as liquidity support.

The bank says it returned Tk 700 crore on July 31; and Tk 809 crore was paid on June 30. Islami Bank Managing Director Md. Omar Faruk Khan said, “The bank is turning around; deposits are coming in; growth is also quite good. Customer confidence has increased a lot.

Besides, the bank is able to maintain SLR and CRR in the correct manner.”

Claiming that deposits increased by Tk 14,000 crore in seven months, he said, “The remaining amount will be paid by next September.”

Bangladesh Bank Governor Ahsan H. Mansur is also talking about the turnaround of Islamic banks. While giving the monetary policy a few weeks ago, he told reporters that Islamic banks have been able to turn around.

Islami Bank faced a liquidity crisis in late 2023. After that, Bangladesh Bank provided them with liquidity support of Tk 2,309 crore at various times. Now the bank is returning that money.

And this month, Islami Bank Bangladesh appointed Omar Faruk Khan as its Managing Director (MD); Zubaidur Rahman was appointed as its Chairman.

In 2017, Chittagong-based businessman S. Alam took over the board of Islami Bank. After that, there were various incidents of anonymous lending, which plunged the once strong bank into financial crisis.

Ahsan H. Mansur took over as the governor of Bangladesh Bank in August last year. After taking office, he dissolved the board of directors of Islami Bank and formed a new board. As a result, the board’s power went beyond S. Alam’s control.

Bangladesh Bank Governor Ahsan H. Mansur has repeatedly told reporters that hundreds of millions of taka have been laundered from Islamic Bank and other Sharia-based banks whose boards were under the control of S. Alam.

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