The Bangladesh Bank yesterday dissolved the board of directors of ICB Islamic Bank considering the interests of depositors, according to an official letter.

However, the displaced official said the allegations are yet to be proved

ICB Islamic Bank, which took shape from the ruins of Oriental Bank in 2008, is now failing to repay the depositors’ money due to severe liquidity crisis, indicating a vulnerable situation of the lender.

The bank also suffered Tk 25.25 crore losses in the year that ended in December 2022

ICB Islamic Bank Limited posted a Tk 10.64 crore loss in the first quarter of 2023.