Bangladesh is ‘closely monitoring’ 5 Sharia-based banks after reports of questionable lending

Bangladesh Bank has launched new efforts to tighten surveillance on five of the country’s 10 Islamic banks following allegations of irregularities in the disbursement of large loans. Five Sharia-based banks will have to report loans of more than 10 million taka to the central bank. Governor Abdur Rauf Talukdar issued a series of instructions on […]

HC orders probe into three Islamic banks after claims of dubious lending

The court directed Bangladesh Bank, the Bangladesh Financial Intelligence Unit, the Criminal Investigation Department of the police, the Anti-Corruption Commission and officials of the banks to investigate the loan scam allegations. According to Deputy Attorney General AKM Amin Uddin Manik, the authorities have been given time till April 5 to present their findings. The court […]