Meanwhile, Bangladesh Bank on Sunday provided a special loan of Tk 25 billion to Islami Bank to ease the liquidity crisis. According to sources at both institutions, the money was deposited into the central bank’s current account, allowing cheque-clearing operations to return to normal.
Speaking to reporters after an emergency meeting with Bangladesh Bank, Acting Managing Director Altaf Hossain said the difficulty faced by customers in withdrawing funds would soon ease. He said the discussion focused on the bank’s liquidity position, fund management and financial planning for the coming days.
All five directors, including the Chairman, were appointed as independent directors by Bangladesh Bank. On 24 May, former chairman M Zubaidur Rahman resigned, and later the same day MD Khurshid Alam, former deputy governor of Bangladesh Bank, was appointed as an independent director and chairman. Later his appointment became a matter of controversy.
Since then, a group of customers under the banner of Sochtan Grahok Forum (Aware Customer Forum) has been protesting, demanding the removal of the newly appointed chairman and making a charter of seven-point demands. There was a heated argument between the government and opposition MPs in Parliament on this issue.