The interim government of Bangladesh is working to salvage Islami Bank, which is facing a severe liquidity crisis after S Alam Group reportedly siphoned off Tk 500 billion. The government is being urged to recover these funds by seizing the group’s assets. Protests have erupted at the bank, with employees clashing over grievances related to the S Alam Group’s controversial takeover in 2017. Despite reporting a profit, the bank is struggling with negative cash flow and declining deposit growth, raising concerns about its financial stability.
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