BB to appoint administrative teams

The interim government has formed an eight-member working committee to implement the merger of five Shariah-based banks.

Conventional banks dominate remittance inflow as Islamic lenders face trust deficit

Bangladesh Bank has directed five Shariah-based banks to resolve their current liquidity crisis while three of them were asked to bring down their advance-deposit ratio (ADR) within the regulatory limit as soon as possible. 

Four more shariah-based banks have been found to have taken emergency funds, which are usually taken during extraordinary circumstances, in an attempt at dressing up their balance sheet for last year.

Bangladesh Bank has come up with a new arrangement named “Islamic Bank Liquidity Facility”, under which the country’s shariah-based banks can now take short-term loan, a first of its kind in the banking sector.