Islami Bank Bangladesh Limited disclosed the reason behind the closure of loan distribution. The Bank has announced the closure of loan distribution. They explained the move to the purpose of the distributed loan so that it is not used for political purposes, the bank says.
The reason behind the closure of loan distribution
Explaining the new decision, the management council of the Islamic Bank has informed that the loan distribution has not been stopped from the zone and branch level of the bank. They mainly changed investment management policy.
The bank said in a press release on Thursday that the steps were taken to ensure that the bank’s loans are not being used for political purposes.
Earlier, the news came through the media that the Islamic Bank’s branch would not be able to lend any more. The bank explained the matter after the information was released through several news reports on Thursday. They have published a notice on their website.
“We have adopted special plans for investment management in order to ensure that the investment-made money of the bank is not used in the upcoming national elections for political purposes,” the notice said.
The Islamic Bank has now focused more on the collection than the distribution of the Islamic Bank, saying that the investment distributed to the branches and zones is time-consuming and the investment is to be kept at the minimum level and ensure the safety of the investment equivalent.