Islami Bank cracks down on Tk889cr money withdrawal using fictitious loans

Following the ouster of the government, the private sector Islami Bank has started taking steps to curb the trend of withdrawing money through fictitious loans.

Last Tuesday, the bank blocked the withdrawal of Tk889 crore in a single day.

Two companies – Golden Star and Top Ten Trading House – were trying to withdraw the money.

Bank officials said both the institutions are related to the bank’s owners, which meant they could only prevent the withdrawal once the government had changed. 

Meanwhile, the instability that started in Islami Bank after the fall of Sheikh Hasina’s government came to a head on Wednesday. 

Bank officials, including those who felt excluded or deprived, held a protest demanding the resignation of officials who joined in the last seven years alongside that of Additional Managing Director (AMD) Muhammad Qaisar Ali. Qaisar resigned yesterday.