SIBL witnesses sudden management shakeup

Islamic shariah-based Social Islami Bank Ltd (SIBL) saw a sudden management shakeup, with its top brass making an unceremonious exit.

Sources close to the bank said the major changes to the board and management of the SIBL were made Monday in a special meeting held at a city hotel.

Former Vice-chancellor of Chittagong University Anwarul Azim Arif was made new chairman of the board of directors of the bank and additional managing director of First Security Islami Bank Quazi Osman Ali managing director of the SIBL.

Vice-chairman of NRB Global Bank Belal Ahmed became chairman of the executive committee of SIBL in the latest bank-management reshuffle.

None of chairman of the board of directors Major (Retd) Dr Md Rezaul Haque, executive committee chairman Md Anisul Hoque and managing director Shahid Hossain was present at Monday's meeting.

An official of SIBL, preferring anonymity, confirmed the changes to the top seats of the Islamic bank.

The changes in SIBL took place more than nine months after similar shakeup in the country's largest shariah-based bank, Islami Bank Bangladesh Ltd.

However, no immediate version of the central bank was available regarding the latest developments in the SIBL.

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