Despite receiving special liquidity support from the Bangladesh Bank (BB), six banks, including four Shariah-based institutions, are facing significant current account deficits. As of August 7, the collective shortfall in their current accounts with BB is Tk 14,621 crore, and their total deficit, considering cash reserve ratio shortfalls, amounts to Tk 20,774 crore.
The banks include National Bank, First Security Islami Bank (FSIBL), Social Islami Bank, Union Bank, Global Islami Bank, and Bangladesh Commerce Bank. S Alam Group has controlling stakes in all but National Bank. FSIBL, with the largest deficit of Tk 6,693 crore, and Social Islami Bank, with Tk 2,877 crore, face the most significant shortfalls.
The deficits highlight a deep financial crisis despite BB’s liquidity support, which was provided without securities. Former BB governor Abdur Rouf Talukder authorized this support to stabilize the sector, but critics argue it might mask underlying issues and delay necessary regulatory actions.
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