DNCC faces challenges retrieving FDRs from troubled banks

Dhaka North City Corporation (DNCC) is struggling to retrieve Tk 29 crore in fixed deposits from four financially strained banks, despite the deposits reaching maturity.

The banks – Global Islami Bank, Social Islami Bank, First Security Islami Bank, and Bangladesh Commerce Bank – cited liquidity issues as they requested more time to return the funds with interest.

DNCC’s Chief Executive Officer Mir Khairul Alam said, “We have requested the funds after the deposits matured, but the banks have asked for more time. We informed the central bank, but there has been no response yet. We hope they will provide guidance on the matter.”

Although DNCC submitted withdrawal requests in July for the matured deposits, no funds have been received so far, according to media reports.

The deposits include Tk 4 crore with Global Islami Bank, Tk 10 crore with First Security Islami Bank, Tk 5 crore with Bangladesh Commerce Bank, and Tk 10 crore with Social Islami Bank.