It happened in just two days. A Nabil Group employee and a relative of its chairman own the firm.
The banking regulator found the involvement of Md Abdul Jalil, independent director and executive committee chairman of the bank, in the loan irregularities.
He alleges that the same political party is engaged in widespread corruption at local levels
The bond will strengthen the bank’s capital base
The adviser made these remarks today during a press conference at the Secretariat in Dhaka
Islami Bank Bangladesh plans to sell the S Alam Group’s stake in the bank to realise dues of around Tk 10,000 crore from the controversial conglomerate.
The bank also intends to invite its former foreign shareholders, including Al Rajhi and the International Finance Corporation, to re-engage with the institution
Islami Bank Bangladesh PLC incurred a loss of Tk 89 crore in the third quarter of 2024, a first in the past couple of decades, due mainly to the necessity of retaining high provisioning against classified loans.
However, the bank made a profit of Tk 267 crore in the Jan-Sep period
Chattogram-based conglomerate S Alam Group has taken more than half of the total loans disbursed by Islami Bank Bangladesh Ltd (IBBL), according to the bank’s newly appointed Chairman Md Obayed Ullah Al Masud
Islami Bank’s former managing director Abdul Mannan had not appeared or spoken publicly since S Alam Group took control of the bank in March 2017.
The Bangladesh Bank has formed a new board of directors for crisis-hit Islami Bank Bangladesh, appointing five independent directors at the Shariah-based lender.
The Bangladesh Bank has incurred a loss of Tk 55 crore from its foreign exchange deal with Islami Bank centring the introduction of the crawling peg exchange rate system.
In the banking sector of Bangladesh, exemptions from rules and regulations for powerful loan defaulters seem to be the default rules.
Distressed Islami Bank has approved a Tk 700 crore loan to a concern of AnonTex Group, one of the five large borrowers of Janata Bank that has been enjoying undue facilities despite making negligible repayment in 13 years.
Islami Bank has tightened its lending activities as the embattled bank looks to shore up its financial health by September.
Saudi investor Arabsas Travel & Tourist Agency has withdrawn its director from the board of Islami Bank Bangladesh PLC, according to a report of the bank.
Lenovo, a multinational technology company, has partnered with Islami Bank, a local commercial bank, to provide 1,500 units of ThinkCentre Neo 50T laptops. The collaboration is a part of the two company's steps towards technological development, with Lenovo providing the bank with continuous technical support whenever required.
Islami Bank Bangladesh Ltd’s profit grew 1.4 percent year-on-year to Tk 343.33 crore in the January-June half of 2023.
