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Dhaka Tribune

Loans and deposits both rising in Islamic banks

Outstanding loans at 10 banks stood at Tk455,525 crore in February this year, up Tk6,452 crore from a month earlier

Update : 30 May 2024, 04:03 PM

Outstanding loans and deposits both increased in 10 local Islamic banks in February this year although six of them have been facing severe liquidity crisis for more than a year.

Outstanding loans at 10 banks stood at Tk455,525 crore, up Tk6,452 crore from a month earlier, according to Bangladesh Bank's latest data.

At the same time, deposits in those banks hit Tk380,066 crore, up Tk4,762 crore from January.

The money being added in the form of interest has also played an important role for the increase in Islamic banks' outstanding loans and deposits in February, experts said.

Despite being in a bad shape, the problematic six are still disbursing loans, which is fuelling the outstanding loans at Islamic banks, they also said.

Some Islamic banks have been facing shortfalls in cash reserve ratio and statutory liquidity ratio for a long time along with being hit by a deficit at their current accounts with the central bank.

Some of them continue to take liquidity support from the banking regulator, according to a senior official of the central bank, requesting anonymity.

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