Bangladesh Bank dissolved the board of Islami Bank and appointed five new independent directors to remove the ownership of S Alam.
Bangladesh Bank Governor Dr. Ahsan H Mansoor approved the appointment on Thursday (August 22), reliable sources in the central bank confirmed.
The newly appointed independent directors are – Rupali Bank’s former managing director and chairman of the board. Obaid Ullah Al Masood, former Executive Director of Bangladesh Bank Khurshid Wahab, former Deputy Managing Director of Al-Arafah Bank Abdul Jalil, Professor of Banking Department of Dhaka University M Masud Rahman and Chartered Accountant Abdus Salam.
Earlier on Wednesday, the governor announced the dissolution of the board of directors of Islami Bank Plc in a press conference. He said that since majority of the shares of the bank are in the hands of S. Alam, the board will be reconstituted with an independent director in the bank for the time being.
The governor said that all the shares related to S Alam’s interests will be taken over by the government. If S Alam pays all the dues then their shares will be released, otherwise adjustment will be made. And later, after the previous directors buy 2 percent shares, their directors will be appointed.
Views: 1
