Bangladesh Bank dissolves Islami Bank board, including chairman

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.
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.
















