Bangladesh Bank has decided to dissolve the board of directors of Islami Bank Bangladesh listed in the capital market.

As most of the shares of Islami Bank are held by S. Alam, all independent directors will be given to the bank for the time being.

Later, it is said that the previous directors will be appointed as directors after buying 2 percent of the shares.

Islami Bank was taken over by S Alam Group in 2017. Since taking ownership of the bank, S Alam Group has taken out Tk 75 thousand crore anonymously.

S Alam owns 82 percent of the bank’s shares. In the meantime, BSEC has banned the transfer of S Alam’s shares.

sources -Bangladesh Bank.