Bangladesh Bank dissolves Islami Bank board, including chairman
Bangladesh Bank Executive Director Mohammad Zahir Hussain has been assigned to exercise all powers and perform the responsibilities of the board.
Logo of Islami Bank Bangladesh PLC. Photo: Collected
Bangladesh Bank has removed Islami Bank's entire board of directors, including the chairman.
Mohammad Shahriar Siddiqui, assistant spokesperson and director of the central bank, confirmed the development.
He said the decision was taken today (14 June) under the Bank Company Act, 1991.
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In a statement, the central bank said the board, including the chairman, was dissolved in the interest of depositors and the public.
It also added that, under Section 47(3) of the Bank Company Act, 1991, Bangladesh Bank Executive Director Mohammad Zahir Hussain has been assigned to exercise all powers and perform the responsibilities of the board.
