Dhaka: Managing Directors (MDs) of six private banks have been placed on mandatory leave to ensure transparency during ongoing audits, as decided by their respective boards of directors. This was confirmed by Husne Ara Shikha, Executive Director and spokesperson for Bangladesh Bank (BB).
According to Bangladesh Sangbad Sangstha, the decision aligns with the central bank’s taskforce initiative aimed at reforming the banking sector through forensic audits. These audits target banks that have faced significant challenges due to large-scale loan scandals and irregularities, leading to liquidity crises. To prevent any conflict of interest and maintain transparency, MDs who were in office during these irregularities have been temporarily relieved of their duties.
The first MD to be placed on mandatory leave was Syed Waseque Md Ali of First Security Islami Bank (FSIB), effective yesterday. Subsequently, the MDs of EXIM Bank, Global Islami Bank, Social Islami Bank, ICB Islamic Bank, and Union Bank were also instructed to take mandatory leave today. During Waseque’s absence, which will last until April 4, Abu Reza Md Yeahia, the additional MD of FSIB, will assume the responsibilities of the MD.