Another entrepreneur of Islami Bank gave up all the shares.

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Another entrepreneur of Islami Bank gave up all the shares.

Bangladesh Islamic Center, another entrepreneurial organization of Islami Bank Bangladesh plc listed in the stock market, has sold all the shares of the bank in their hands.

The entrepreneur said through the Dhaka Stock Exchange (DSE) that they have sold all the shares held by the company through DSE.

The company owned 34 lakh shares of Islami Bank. At the current market price, which is worth more than 11 crore taka. Earlier, several local and foreign entrepreneurs of the bank sold their shares and left the bank.

In October last year, Islami Bank Bangladesh withdrew from the ownership and management of Saudi Arabia-based Islamic Development Bank (IDB). The bank has been associated with international lenders since its inception. Mohammad Al-Midani was the director at the last bank on behalf of IDB. IDB also divests all the shares of Islami banks it holds.

After the change of ownership of the bank in 2017, domestic and foreign shareholders started leaving the bank one by one. In April 2017, local entrepreneur Ibn Sina Trust sold all the shares.

Then IDB sold some shares in May of that year. In September 2017, Kuwait Finance House sold the shares of the bank.

Investment Corporation of Bangladesh (ICB) vacated shares and directorships in June last year. Arabsus Travel and Tourist Agency of Saudi Arabia gave up shares and directorships last July. Now the bank has a foreign director. The rest of the persons are representatives of S Alam Group-affiliated.

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