MD MEHEDI HASAN

Continued protests by a section of Islami Bank customers have triggered a surge in deposit withdrawals, placing the country’s largest Shariah-based lender under mounting pressure.

The bank lost Tk 4,240 crore in deposits within seven days following protests that began on June 1 against the appointment of Md Khurshid Alam as new chairman by Bangladesh Bank. The demonstrations under the banner of Conscious Customers’ Forum have disrupted operations at several branches.

According to internal data, Islami Bank’s total deposits fell from Tk 1,84,382 crore on May 31 to Tk 1,80,141 crore on June 7.

Talking to The Daily Star yesterday, Md Altaf Hossain, acting managing director of Islami Bank, acknowledged that the lender is facing significant withdrawal pressure. “Many customers are withdrawing their deposits due to the ongoing instability.”

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