BB dissolves S Alam-affiliated 3 banks' boards

Bangladesh Bank on Tuesday dissolved and reconstituted the boards of three banks affiliated with the S Alam Group, reports UNB.
These banks are Union Bank, Global Islami Bank, and United Commercial Bank.
Meanwhile, the Central Bank Tuesday formed new board of directors to operate the Union Bank and Global Bank.
Former Islami Bank Managing Director Fariduddin Ahmed was made chairman of Union Bank .
The other members of the 5-member board are: Bangladesh Bank's former executive director Humayun Kabir; former RAKUB deputy managing director Saiful Islam; Dhaka University's Department of Banking and Insurance Professor Shahidul Islam Jahid; and Chartered accountant Sheikh Jahidul Islam, according to a central bank circular issued today.
All of the members have been appointed as independent directors with Fariduddin also getting the responsibility of the chairman.
The Global Islami Bank board was formed with former Meghna Bank managing director Nurul Amin as head.
The other members of the board are: Bangladesh Bank's former executive director Jamal Mollah; former Islami Bank deputy managing director Nurul Islam Khalifa; Dhaka University's International Business Department professor Abu Hena Reza Hassan; and Chartered accountant Mahmud Hossain, according to a central bank circular issued on Tuesday.
All of the members have been appointed as independent directors with Nurul Amin also getting the responsibility of the chairman.