Due to various financial irregularities and corruption in Sharia-based banks, customers are still withdrawing their deposits, resulting in a continuous decline in the amount of deposits in these banks.

According to the latest data, deposits decreased by more than Tk 2,600 crore in October last year. Earlier, this amount increased to more than Tk 8,500 crore between July and September.

Currently, there are 10 fully-fledged Sharia-based banks in Bangladesh. These are Islami Bank Bangladesh, Social Islami Bank Limited (SIBL), First Security Islami Bank, Global Islami Bank, Union Bank, ICB Islamic Bank, Exim Bank, Shahjalal Islami Bank, Al-Arafah Islami Bank and Standard Bank. Out of these, 5 were under the control of controversial Chittagong businessman S Alam.

Islamic banks once had a lot of trust from customers. But the situation has deteriorated due to widespread looting and corruption in the banks controlled by S Alam. They have failed to maintain CRR and SLR as per the instructions of the central bank.

Meanwhile, former Governor Abdur Rouf Talukder tried to control the situation by providing various facilities for them. But the new Governor Dr. Ahsan H. Mansur changed the criteria and helped reveal the truth of the situation. Then the boards of 11 banks were dissolved. Instead of improving the situation, the crisis became more pronounced.

According to the Bangladesh Bank report, the amount of deposits in full-fledged Islamic banks was Tk 3,88,935 crore in September, which fell to Tk 3,86,314 crore by the end of October. In contrast, deposits in Islamic banking branches and windows of conventional banks increased by Tk 1,290 crore.

However, there was an increase in loans disbursed by banks. Disbursed loans at the end of September were Tk 4,80,045 crore, which increased to Tk 4,80,703 crore in October.

Meanwhile, import and expatriate income in Islamic banks increased. Imports were worth Tk 11,191 crore in September, which increased to Tk 11,458 crore in October.

Expatriate income in these banks has also increased. Expatriate income of Tk 6,408 crore was added in September, which increased to Tk 6,955 crore in October.

However, exports to Islamic banks have decreased. Exports of goods worth Tk 9,231 crore were exported in September, which decreased to Tk 8,556 crore in October.

It is very important to address the weaknesses of the banks on an urgent basis, and the government should address these problems in an effective manner.