Bangladesh Bank has appointed Mohammad Ashraful Alam as observer to Islami Bank Bangladesh PLC.
In a statement issued today (10 June), the central bank said he has been appointed under Section 49(1)(gh)(a) of the Bank Company Act, 1991.
The appointment has been made to closely monitor the bank’s overall activities, safeguard the institution’s interests, protect depositors and ensure broader public interest, the statement said.
As observer, Mohammad Ashraful Alam, who served as executive director of Bangladesh Bank, will participate in meetings of the bank’s board of directors and other relevant activities.
He will also provide Bangladesh Bank with necessary information and observations regarding the bank’s operations.
Bangladesh Bank said it remains committed to ensuring stability, good governance, transparency and accountability in the country’s banking sector.
The central bank expressed hope that the appointment would help strengthen discipline and public confidence in Islami Bank’s operations.
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