B Mirror Report: The Bangladesh Bank has appointed an administrator to Aviva Finance, a non-bank financial institution, as part of its efforts to strengthen governance and financial stability in the sector.

Hassan Tarek Khan, Director of the Financial Institutions and Markets Department, has been appointed to the position. He will serve as the Chief Executive Officer of the institution from Monday until further notice.

The central bank informed the chairman of Aviva Finance through an official letter issued on Sunday.

Earlier, Bangladesh Bank had dissolved and reconstituted the board of Aviva Finance on September 3, 2024. The institution was previously under the control of the S Alam Group during the previous administration.

Following the restructuring, a five-member independent board was formed. The board is chaired by former Bangladesh Bank Executive Director Md. Golam Mostofa. Other members include Dhaka University Professor Dr. H M Mosharraf Hossain, former Deputy Managing Director of Agrani Bank Md. Rafiqur Islam, and former Deputy Managing Director of ICB Abu Taher Mohammad Ahmedur Rahman.

Before the latest appointment, Khandaker Imran Habib had been serving as acting managing director of the institution.

The central bank’s move is seen as part of ongoing efforts to improve oversight and restore confidence in the non-bank financial sector.