Md Abdul Mannan Bangladesh Bank (BB) has dissolved the board of First Security Islami Bank and reconstituted it appointing Md Abdul Mannan, former managing director of Islami Bank Bangladesh Ltd (IBBL), as the chairman of the new board.
The central bank on Sunday issued the instruction stating that the banking regulator reconstituted the board for the protections of the depositors and the largest unconventional bank in the country as a whole.
Other independent directors of five-member body are former BB executive director Md Azizur Rahman, former deputy managing director of Uttara Bank Md Abdul Kuddus, associate professor of Dhaka University's department of accounting and information system Dr Md Saiful Alam and chartered accountant Md Ragib Ahsan FCA.
The latest change in the First Security Islami Bank board comes as part of the central bank's move to neutralise control of Chattogram-based controversial business conglomerate S. Alam Group from the banking industry.
FSIB was previously directly controlled by the controversial S. Alam Group until a recent change in state power following days of student and citizens' protests that resulted in the death of nearly 1000 people.
© 2024 - All Rights with The Financial Express
