BB lends Tk25,000cr to banks in a day
Staff Correspondent
The Bangladesh Bank (BB) has provided Tk25,520 crore to the country’s financial institutions mostly as short-term loans to help them meet depositors’ cash demand which surged following a five-day countrywide closure.
The central bank disclosed the liquidity injection data on Thursday, claiming the total sum was disbursed on Wednesday, the first working day for banks following days of countrywide violent anti-government protests.
Amid the closure of commercial banks and other financial institutions, depositors had extensively used ATMs during five days from Friday to Tuesday to draw liquid money, and on Wednesday there were huge pressures at desks of banks.
Anticipating the huge demand, BB auctioned off Tk25,521 crore in loans on Wednesday.
Of the total sum, Shariah-based institutions received Tk1,500 crore.
The loans have maturity periods of one day, seven days, 14 days, 28 days and 180 days. The loans have interest rates ranging between 8.5% and 8.75%, while profit margins for Islamic banks range between 3.25% and 6.5%.
