Bangladesh, Oct. 14 -- Local regulator has set an administrator to oversee the winding-down of Bangladesh's state-owned Janata Bank operations in the UAE, despite the dispatch of US$81.68 million as capital- adequacy bail-in fund, sources said.

The bank's Dhaka headquarters made an attempt to inject AED 300 million, equivalent to about US$81.68 million, to address the overseas unit's capital shortfall, they said.

But the Central Bank of the United Arab Emirates (CBUAE) declined to accept the offer and appointed Crowe UAE, an audit and consulting firm, as the administrator, according to a document availed by The Financial Express.

The appointment took effect on October 8, following a notification from the UAE central bank sent by emai...