Islamic banks - FIs asked to participate in Shariah-based refinancing scheme

The central bank has asked Islamic banks and non-banking financial institutions (NBFIs) to participate in its newly introduced Shariah-based refinancing scheme. The advice came at a meeting with the senior executives of the Islamic banks and NBFIs with Deputy Governor of the Bangladesh Bank Abul Quasem in the chair.
At the meeting, the central bank assured the Islamic banks and NBFIs that it would provide extra fund in the scheme if necessary. Five Islamic banks have already deposited Tk 3.75 billion with the BB's newly opened account for introducing the refinancing scheme exclusively for Sharia-based banks and NBFIs.