A bank will not be able to do Islamic banking business along with conventional banking at the same time, according to the draft ‘Islami Bank Company Act-2024’, as the central bank looks to level the playing field for Shariah-based banks.
Conventional lenders in Bangladesh fell behind shariah-based banks in 2022 in terms of profit growth mainly due to the lower interest rate regime.
Most of the Shariah-compliant banks in Bangladesh clocked higher profits in 2022 despite a fall in deposits and the unprecedented fund withdrawal by customers and liquidity crunch.
Deposit flow to Islamic banks in Bangladesh registered a fall in the fourth quarter of 2022, the first such decline in eight years, in a sign of erosion of confidence among savers owing to loan irregularities.
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.
A bank will not be able to do Islamic banking business along with conventional banking at the same time, according to the draft ‘Islami Bank Company Act-2024’, as the central bank looks to level the playing field for Shariah-based banks.
Conventional lenders in Bangladesh fell behind shariah-based banks in 2022 in terms of profit growth mainly due to the lower interest rate regime.
Most of the Shariah-compliant banks in Bangladesh clocked higher profits in 2022 despite a fall in deposits and the unprecedented fund withdrawal by customers and liquidity crunch.
Deposit flow to Islamic banks in Bangladesh registered a fall in the fourth quarter of 2022, the first such decline in eight years, in a sign of erosion of confidence among savers owing to loan irregularities.
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.
