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
Islami Bank Bangladesh Ltd (IBBL) retained its top spot as the biggest remittance collector as it brought home the highest amount of funds sent home by migrant workers in January-March of 2023, official figures showed.
Come January there won’t be any volatility in the foreign exchange market -- was the overarching message from the government in the past couple of months. January has arrived, and the situation is dicey as before.
Islami Bank has started to avail a central bank facility that is only summoned during extraordinary circumstances, as the Shariah-based lender looked to dress up its balance sheet ahead of the year’s end.
On edge -- is what best describes the sensation surrounding the banking sector. But the Bangladesh Bank higher-ups were warned as early as October 2021 that such a situation might transpire. Yet, no definitive action was taken then.
Bangladesh Bank yesterday re-appointed an observer at Islami Bank and dispatched an observer for the first time at First Security Islami Bank (FSIBL) -- the two Shariah-based lenders where Chattogram-based business giant S Alam Group has significant stakes.
Investigation into financial irregularities the first step forward
Prime Minister Sheikh Hasina has called for an investigation into the affairs of S Alam Group, which has been in the public discourse in recent times for its alleged excessive borrowing from the banking system in violation of rules.
Refusal to terminate 21 top officials and extend some big loans has forced Arastoo Khan to resign from the post of chairman of the Islami Bank Bangladesh Limited after only one year of his three-year term, an investigation by The Daily Star has found.
Islami Bank, the largest and most profitable bank in the country, has seen a significant fall in its half-yearly profit, only months after
Two independent directors of Islami Bank Bangladesh (IBBL) have resigned from the board of the bank, a day after they were removed from their executive posts.
