NN Online:
The boards of five Bangladeshi banks have approved sending their managing directors (MDs) on forced leave, following recommendations from a Bangladesh Bank (BB) task-force.
The five banks are EXIM Bank, Union Bank, Global Islami Bank, Social Islami Bank, and ICB Islami Bank, said Bangladesh Bank officials on Sunday.
On Saturday, the managing director of First Security Islami Bank, Syed Wasek Md Ali, was sent on forced leave over allegations of negligence. He was found to have failed in his duties regarding irregular loan approvals for Chattogram-based S Alam Group. He will remain on leave until April 4.
On Thursday, Bangladesh Bank held an emergency meeting with board members of six banks. During the meeting, it was decided to remove senior officials, including managing directors closely associated with S Alam Group, to facilitate further investigations and take appropriate actions.
