Islami Bank receives central bank approval to raise authorised capital to Tk10,000cr

Islami Bank has secured approval from the central bank to raise its authorised capital by five times, bringing the total to Tk10,000 crore. The bank's board of directors gave their consent to this proposal on 4 November. This development comes at a time when the bank is facing significant financial challenges, with defaulted loans surpassing Tk1 lakh crore and a provision shortfall reaching Tk85,886 crore.