Staff Reporter :
Following recommendations from the Bangladesh Bank-formed task force, the managing directors (MDs) of five banks were sent on forced leave ahead of the central bank’s forensic audit initiative.
The respective boards of directors of these five banks approved the decision on Sunday.
In an order issued yesterday, the MDs of EXIM Bank, Global Islami Bank, Social Islami Bank, ICB Islamic Bank, and Union Bank were sent on temporary leave.
Apart from ICB Islamic and Exim Bank, the other three banks were said
to be heavily-controlled by S Alam Group, alleged to take out thousands of crores in loans during the previous Awami League regime by weaponzing its political influence for business gains.
Earlier, in a meeting with the chairpersons of the five banks, Bangladesh Bank Governor Dr Ahsan H Mansur instructed the removal of the MDs.
On Saturday, First Security Islami Bank PLC has sent its managing director, Syed Waseque Md Ali, on forced leave, for 90 days as part of conducting an independent review of the bank’s asset quality.
According to an office order shared with the bank’s employees, the leave began on January 05 and end on next April 4.
There is a move to review the asset quality of five “problem banks” by the central bank. It is funded by Manila-based Asian Development Bank under a project titled asset quality review of five weak banks involving more than $1.0 million.
