The Continued Crisis Of Farmers Bank
As the number of cases of both individual and institutional depositors failing to withdraw their money from Farmers Bank Ltd. (FBL) continues to increase, the relatively new banking institution seems to be precariously close to an alarming bank run. Farmers bank continues to display inabilities in paying out its fixed term deposits, including refusing to pay back matured fixed deposits of Tk. 508.13 crore belonging to the Bangladesh Climate Change Trust Fund. Bangladesh Bank forwarded a report in October 2017 to the Parliamentary Standing Committee on Finance that suggested that Farmers bank did not have the capacity to pay back funds to depositors and also to other banks, and went on to initiate changes in the bank’s board.
This story is from the January 19, 2018 edition of Dhaka Courier.
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This story is from the January 19, 2018 edition of Dhaka Courier.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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