Islamic Bank of Thailand denies 'crash' speculation | Bangkok Post: business

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IBank denies 'crash' speculation

The chairman of the House committee on Border Affairs on Wednesday afternoon insisted the financial status of the Islamic Bank of Thailand (IBank) was still strong and that it would not fail as speculated.

Panel chairman Samart Maluleem of the Democrat Party called an urgent news conference after it was reported that more than five billion baht in cash had been withdrawn by the bank's clients over the past 15 days.

The rush was driven by a report that IBank faces a problem, with as much as 24 billion baht of non-performing loans (NPLs), and would merge with another state-owned bank.

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Your comments

  • txapi

    ThailandPost : 62

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    Discussion 3 : 20 Feb 2013 at 19.283

    Guess they shouldn't have loaned all that money to insurgents in the South. Silly islamic bank, islamic extremists don't repay loans. Som nom na.

  • boons

    United StatesPost : 664

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    Discussion 2 : 20 Feb 2013 at 18.572

    Never underestimate the desire of the Western banking cartels to collapse Islamic banking. It is a direct threat to the oligarchy.

    Just look what happened to Libya and its plans for a pan-African gold dinar. Bye bye.

  • onlyasking

    ThailandPost : 467

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    Discussion 1 : 20 Feb 2013 at 17.511

    Hmmm the same bank that gave the previous deputy PM a B 240 mil loan and he only have B 210 mil assets.

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