BRAC Bank and Pran-RFL Ink Cash Management Agreement

First Security Islami Bank (FSIB) has terminated Deputy Managing Director Md Akmal Hossain due to alleged irregularities during his tenure at Social Islami Bank Limited (SIBL). The dismissal letter, signed by FSIB's Managing Director Syed Waseque Md Ali, cited official communication from SIBL confirming Hossain's discharge on December 19.

Islami Bank Bangladesh's Managing Director, Mohammed Monirul Moula, has been absent from his workplace since December 19 after being forced to leave by a group of officials. According to an unnamed additional managing director, Moula has been working from home due to "internal issues."

Companies linked to the S Alam Group took out 56% of the total loans disbursed by First Security Islami Bank (FSIB), amounting to Tk 33,791 crore out of Tk 60,272 crore as of September. An internal inspection revealed significant irregularities in loan disbursement, including excessive investment, overvalued collateral, and improper loan rescheduling.

Corporate external borrowing continues to decline, with Bangladesh’s short-term overseas debt falling to $10.52 billion in October 2024 from $13.95 billion in May 2023, according to Bangladesh Bank. Analysts attribute this trend to domestic economic instability following the Sheikh Hasina government’s fall in August, the ongoing energy crisis, and currency depreciation.

Bangladesh Bank (BB) has asked 13 banks, including BRAC Bank, Islami Bank Bangladesh, and Shahjalal Islami Bank, to explain by December 22 why they are offering unusually high US dollar rates to foreign exchange houses, with rates reaching Tk 127–128 against the official interbank rate of Tk 120.

Bangladesh Krishi Bank has been honored with the "Remittance Award 2024" by the Ministry of Expatriates' Welfare and Overseas Employment for its significant contribution to remittance inflows during the fiscal year 2023-24.