Al-Arafah and Commerce Bank were freed from S Alam

Al Arafa Islami Bank and Bangladesh Commerce Bank were freed from possession of S Alam. The board of directors has been dissolved. On the contrary, the new council has been reconstituted. Bangladesh Bank has issued two separate orders in this regard. Already, Bangladesh Bank has dissolved the board of 6 banks owned by this controversial businessman.

In a letter sent by Bangladesh Bank to the managing directors of the two banks on Tuesday (September 3), it was stated that the previous board of directors was abolished by virtue of section 47(1) and 48(1) of the Bank-Company Act, 1991 (as amended up to 2023). has been announced. At the same time Bangladesh Bank has appointed directors in these two banks under the powers given in Section 45 of the Bank-Company Act, 1991.

The new directors of Bangladesh Commerce Bank are Md. Ataur Rahman (Independent Director), Md. Mohsin Mia (Independent Director), Kamrul Haque Maruf (Director), Md. Ghulam Murtuza (Director) and Sheikh Ashwafuzzaman (Independent Director).

The central bank has appointed Khawaja Shahria as an independent director and chairman of the board of directors of Al-Arafah Islami Bank. Other independent directors of the board are Md. Shaheen Ul Islam, Md Abdul Wadud, M Abu Yusuf and Mohammad Ashraful Hasan.

Bangladesh /KH