IslamicFinance.de

The central bank has extended ICB Islamic Bank's timeline by three and half years to repay the money it owes to its clients. According to central bank's figures, former Oriental Bank's financial liabilities towards it depositors stand at Tk 7.5 billion. The bank was rechristened ‘ICB Islamic Bank’ in 2007 and a scheme was initiated to pay back the money to its depositors within six and half years. In a circular issued on Sunday, Bangladesh Bank extended the tenure of the scheme by 42 months on a request from the ICB Islamic Bank.