BM Desk: Despite various challenges in the country’s banking sector, deposits in Islamic banks have increased. According to the latest report by Bangladesh Bank, deposits in the 10 Shariah-based Islamic banks rose by Tk 4,850 crore in August this year.
Data shows that at the end of July, the total deposits in these banks stood at Tk 3,93,937 crore. By the end of August, the amount had increased to Tk 3,98,787 crore — a rise of 1.23% in just one month.
In comparison, during the same period last year (August 2024), Islamic banks had deposits worth Tk 3,87,892 crore. This means that over the year, deposits have increased by Tk 10,895 crore, or 7.06%.
However, there has been a slight decline in remittance inflow, export earnings, and import payments.
According to Bangladesh Bank, Islamic banks received remittances worth USD 660 million in July this year. In August, the figure dropped to USD 600 million — a decrease of USD 60 million in one month.
During the same period, import bill payments through Islamic banks also declined by USD 280 million, or 28.55%. While Islamic banks settled import bills worth USD 980 million in July, the amount fell to USD 700 million in August.
Export earnings also experienced a minor fall. Islamic banks handled USD 670 million in export earnings in July, which decreased to USD 650 million in August — a drop of USD 20 million, or 2.05%.
Analysts say that although the overall banking sector is under pressure, the increase in deposits in Islamic banks can be viewed as a positive sign. However, the downward trends in remittance and export earnings could affect liquidity management in the coming months.
