Farmers Bank unable to return client deposits, Muhith tells JS

Finance Minister AMA Muhith yesterday told Parliament that Farmers Bank is unable to return its client deposits due to its liquidity crisis, reports UNB. "Now the Farmers Bank can't return the deposits of its clients as the bank faces liquidity crisis," he said responding to a starred question from Jatiya Party MP Selim Uddin (Sylhet-5).

The minister said Bangladesh Bank is continuing its efforts maintaining intense communication with the government to tackle the liquidity crisis of the bank. He said the financial base of the bank is getting weak due to its negligence in following regulatory and prudential rules and anomalies taken place at different stages of the Board of Directors and management after the inception of its banking activities.

Despite taking various measures taken by the central bank on various occasions, the overall condition of Farmers Bank is gradually getting worse, Muhith said.

Farmers Bank unable to return client deposits, Muhith tells JS

Finance Minister AMA Muhith yesterday told Parliament that Farmers Bank is unable to return its client deposits due to its liquidity crisis, reports UNB. Now the Farmers Bank cant return the deposits of its clients as the bank faces liquidity crisis, he said responding to a starred question from Jatiya Party MP Selim Uddin (Sylhet-5). The minister said Bangladesh Bank is continuing its efforts maintaining intense communication with the government to tackle the liquidity crisis of the bank. He said the financial base of the bank is getting weak due to its negligence in following regulatory and prudential rules and anomalies taken place at different stages of the Board of Directors and management after the inception of its banking activities. Despite taking various measures taken by the central bank on various occasions, the overall condition of Farmers Bank is gradually getting worse, Muhith said.