Bangladesh Bank on Monday extended again the deadline by three and a half years for repayment of the depositors’ money under Oriental Bank (reconstruction) Scheme as ICB Islamic Bank failed to repay the money in due time. A BB circular issued on the day also said the bank’s deposit liability of the development partners would not be included in the extension. BB officials said the time extension would be come into effect in eight phases where the deadline for first phase would be in the next year and the last phase deadline would be in 2017.
The BB launched the reconstruction scheme of Oriental Bank in 2007 following detection of its huge irregularities.
The central bank converted Oriental Bank to ICB Islamic Bank in 2007 and asked it to repay all depositors’ money of Oriental Bank in next five years.
The BB officials said following request by ICB Islamic Bank the central bank had already extended the deadline several times.
-With New Age input
