Islami Bank’s statement on its lending
The Islami Bank on Sunday sent a statement on a report published by The Business Standard under the headline: "How a 24-year-old greenhorn is 'blessed' with a Tk900cr loan" on 27 November 2022.
The unedited version of the statement says:
Islami Bank Bangladesh Limited has been conducting banking activities with reputation for 40 years. With the financing of this bank, a significant number of large industrial institutions of the country have been established. The information published in your newspaper regarding investment in 3 institutions was not presented properly.
Islami Bank disbursed investment to the said institutions for ensuring adequate supply of essential food items following the Bank's investment policy and regulatory guidelines.
Islami Bank has increased its investment during December 202l-September 2022 for running business smoothly and continuing adequate supply of daily essential food items throughout the country.
In addition, after Covid-l9 due to price hike in international market, increase in import requirement of essential commodities & dollar rate volatility and expansion of the business, they have been given investment through proper valuation and taking adequate collateral following bank's rules.
