In the banking sector of Bangladesh, exemptions from rules and regulations for powerful loan defaulters seem to be the default rules.
Distressed Islami Bank has approved a Tk 700 crore loan to a concern of AnonTex Group, one of the five large borrowers of Janata Bank that has been enjoying undue facilities despite making negligible repayment in 13 years.
Islami Bank has tightened its lending activities as the embattled bank looks to shore up its financial health by September.
Saudi investor Arabsas Travel & Tourist Agency has withdrawn its director from the board of Islami Bank Bangladesh PLC, according to a report of the bank.
Lenovo, a multinational technology company, has partnered with Islami Bank, a local commercial bank, to provide 1,500 units of ThinkCentre Neo 50T laptops. The collaboration is a part of the two company's steps towards technological development, with Lenovo providing the bank with continuous technical support whenever required.
Islami Bank Bangladesh Ltd’s profit grew 1.4 percent year-on-year to Tk 343.33 crore in the January-June half of 2023.
Islami Bank Bangladesh Ltd (IBBL) retained its top spot as the biggest remittance collector as it brought home the highest amount of funds sent home by migrant workers in January-March of 2023, official figures showed.
Come January there won’t be any volatility in the foreign exchange market -- was the overarching message from the government in the past couple of months. January has arrived, and the situation is dicey as before.
Islami Bank has started to avail a central bank facility that is only summoned during extraordinary circumstances, as the Shariah-based lender looked to dress up its balance sheet ahead of the year’s end.