Observers in four banks appointed

Bangladesh Bank (BB) has appointed observers to four more private sector banks – National Bank Limited, Premier Bank Limited, IFIC Bank Limited, and Al-Arafah Islami Bank Limited.

The central bank sent letters to the appointed observers on Monday officials familiar with the matter told The Business Standard.

Munir Ahmed Chowdhury, director of the Bank Supervision Department-12, has been appointed observer at National Bank.

Mohammad Anisur Rahman, director of the Islamic Banking Regulation and Policy Department, has been assigned to Al-Arafah Islami Bank.

Meanwhile, ANM Moinul Kabir, director of the Payment Systems Department, has been appointed observer at Premier Bank, while AKM Kamruzzaman, director of the Forex Reserve and Treasury Management Department-1, will serve as observer at IFIC Bank.

The officials are expected to attend meetings of the banks’ board of directors, executive committees, and risk management committees, sources said.

The central bank usually appoints observers to banks whose financial health is deteriorating.
Observers take part in board meetings and monitor the banks’ operations.

They are withdrawn once the financial health of a bank improves.

After the fall of the Awami League-led government on August 5, 2024, the central bank restructured the boards of 14 banks, including the four lenders.