Six Troubled Banks Receive Tk 5,000 Crore in Liquidity Aid

Industry: Bank, Financial
Company: First Security Islami Bank Limited, Global Islami Bank Limited (GIBL), Islami Bank Bangladesh Limited (IBBL), National Bank Limited (NBL), SOCIAL ISLAMI BANK LTD (SIBL), Union Bank Limited
Company Intelligence Tag: Business Insights

In the last 30 days, Bangladesh Bank provided Tk5,000 crore in liquidity guarantees to six struggling banks, including Islami Bank Bangladesh, Social Islami Bank, and First Security Islami Bank, following financial irregularities and loan frauds. Support from solvent banks like Sonali and Dutch-Bangla helped ease customer concerns, but withdrawal demands remain high. Despite further assistance of Tk920 crore, concerns persist over past mismanagement. As of August, nine private banks faced a combined deficit of over Tk18,000 crore. The interim government has dissolved the boards of 11 banks linked to corruption.

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