Bangladesh Islamic Centre, a corporate sponsor of Islami Bank Bangladesh PLC, is planning to divest its entire stake of 34 lakh shares in the troubled Shariah-based lender. This move follows a trend of sponsors withdrawing from the bank since S Alam Group took control in 2017, amid concerns over its financial stability. The shares, amounting to a 0.21 percent stake, will be sold at prevailing market rates through public and block markets on the Dhaka Stock Exchange within the next 30 working days. As of May, local sponsors and directors held 30.93 percent of the bank, with foreign sponsors and directors holding 4.95 percent, institutes 42.99 percent, foreign investors 12.96 percent, and general investors 8.16 percent.
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