Q. Prepare
a report for consideration of the Board regarding the problem of excess
liquidity in the bank.
Islami
Bank
Khatunganj
Branch
Chittagong
7020
Phone:
975 2319 Fax: 975 2320
Email:
islamikhatunganj@islamibank.com
Our
Ref: Board/Suggestion/Liquidity/01/09
Saturday,
May 09, 2009
Solution
to the problem of excess liquidity
Almost
all the branches of Islami Bank in Chittagong as well as in other parts of
Bangladesh, as you know, have been facing excess liquidity as devout Muslims
are crowding our bank branches to deposit their savings knowing full well that
they would not
earn any interest on their deposits.
This
trend of flooding our bank with deposits is observed especially during three
months before Hajj as the devout Muslims, who make up their minds to perform
Hajj, withdraw their savings from other commercial banks and deposit the same
with us just before they set out their journey for Hajj.
Considering
this trend we suggest our esteemed management to invest the excess fund with
leasing companies for a short period of three months. We have come to learn
that the leasing companies offer the best rate. During Hajj period the leasing
companies finance the leather processing factories also for a short period on
the eve of Eid-ul-Azha.
Submitted
for their kind perusal, please.
Maswood
Alam Khan
Assistant
Vice President and Manager
The
Chairman
Board
of Directors
Islami
Bank
Head
Office, Motijheel,
Dhaka
1000
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