Islami Bank Bangladesh PLC incurred a loss of Tk 89 crore in the third quarter of 2024, a first in the past couple of decades, due mainly to the necessity of retaining high provisioning against classified loans.

However, the bank made a profit of Tk 267 crore in the Jan-Sep period

Abu Nasser Muhammad Abduz Zaher resigned from the bank and left for London in 2015

Chattogram-based conglomerate S Alam Group has taken more than half of the total loans disbursed by Islami Bank Bangladesh Ltd (IBBL), according to the bank’s newly appointed Chairman Md Obayed Ullah Al Masud

Islami Bank’s former managing director Abdul Mannan had not appeared or spoken publicly since S Alam Group took control of the bank in March 2017.

The Bangladesh Bank has formed a new board of directors for crisis-hit Islami Bank Bangladesh, appointing five independent directors at the Shariah-based lender.

The Bangladesh Bank has incurred a loss of Tk 55 crore from its foreign exchange deal with Islami Bank centring the introduction of the crawling peg exchange rate system.

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Saudi investor Arabsas Travel & Tourist Agency has withdrawn its director from the board of Islami Bank Bangladesh PLC, according to a report of the bank.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.

On edge -- is what best describes the sensation surrounding the banking sector. But the Bangladesh Bank higher-ups were warned as early as October 2021 that such a situation might transpire. Yet, no definitive action was taken then.

Bangladesh Bank yesterday re-appointed an observer at Islami Bank and dispatched an observer for the first time at First Security Islami Bank (FSIBL) -- the two Shariah-based lenders where Chattogram-based business giant S Alam Group has significant stakes.

Investigation into financial irregularities the first step forward

Prime Minister Sheikh Hasina has called for an investigation into the affairs of S Alam Group, which has been in the public discourse in recent times for its alleged excessive borrowing from the banking system in violation of rules.