Islami Bank Bangladesh PLC has sought Tk 10,000 crore in special liquidity assistance from Bangladesh Bank to address rising withdrawal pressure and maintain liquidity stability amid uncertainty surrounding recent changes in its top management, banking sources said.

The request was submitted to the central bank on Monday.

Bank officials said customer withdrawals have surged significantly in the five working days following the Eid holidays, with net withdrawals exceeding deposits by around Tk 4,300 crore, well above normal operational trends.

The increased cash outflow has created pressure on the bank’s liquidity position and raised concerns over its ability to comfortably maintain the statutory Cash Reserve Requirement (CRR), officials added.

A senior bank official said the situation has been driven largely by uncertainty among  a section of depositors following recent developments in the bank’s leadership structure.

According to officials, Islami Bank’s balance with Bangladesh Bank has declined sharply in recent days.

The bank reportedly held more than Tk 7,015 crore in its current account with the central bank a few days earlier, which has now fallen to around Tk 2,600 crore due to sustained withdrawal pressure.

Officials said the requested liquidity support is intended as a precautionary measure to ensure uninterrupted customer services and financial stability.

The situation comes amid ongoing protests and public concern over the appointment of former Bangladesh Bank Deputy Governor Khurshid Alam as chairman of the bank. Under the banner of the “Islami Bank Customer Forum,” a group of protesters has been demonstrating since June 1, demanding cancellation of his appointment. They have alleged irregularities during his tenure at the central bank.

S Alam Group had controlled the bank since 2017. However, following political changes in August 2024, the board of the bank was reconstituted under the interim government.

Subsequently, changes were also made in key leadership positions, including the chairman and managing director posts, which has contributed to the current phase of uncertainty within the institution.

SM/CitizenTimes