Sonali Bank will provide liquidity facilities of Tk. 550 crore to Union and Exim Bank. Of this, Exim Bank is borrowing Tk. 400 crore; Union Bank is getting Tk. 150 crore

The central bank is providing liquidity guarantee to banks weakened due to loan fraud and various irregularities. Under this new private sector Exim and Union Bank are getting Tk. 550 crore liquidity loan. And the whole of this loan is given by the state-owned Sonali Bank.

According to Central Bank sources, Exim Bank is getting a loan of Tk. 400 crore; On the other hand, Union Bank is getting Tk. 150 crore.

Although Union Bank’s proposal was Tk. 350 crore. A senior official of the concerned bank said that Tk. 150 crore has been sanctioned; The rest can be given later.

Bankers said that customers’ confidence in weak banks has started to return due to this support from inter banks. As many people’s worries have gone away, customers are no longer rushing to withdraw money from these banks like before. However, the banks have not yet become capable of refunding the deposits as per the customer’s demand.

It is known that the central bank has taken the initiative to collect funds from the interbank currency market to overcome the crisis of the banks which have been weakened due to various financial irregularities and corruption. In view of this, 10 banks in good condition agreed to provide loan assistance to banks in crisis subject to the guarantee of Bangladesh Bank.

Recently, in a meeting with Bangladesh Bank Governor Ahsan H Mansoor, the Managing Directors (MD) of these banks agreed to provide them with liquidity support. As part of this, in the first round, 5 strong banks lent Tk. 975 crore to 4 weak banks.

In the second phase, 3 Sabol Banks have given another loan of 1,480 crores to 5 banks including the previous 4.

Now in the third phase, Sonali Bank is giving loans of Tk. 550 crore to private Exim and Union Banks which are in crisis.

Central Bank sources