Five additional bank MDs have been placed on mandatory leave based on recommendations from a task force established by Bangladesh Bank. The boards of directors of each of these banks gave their approval for the decision to place the MDs on leave. Exim Bank, Union Bank, Social Islami Bank, Global Islami Bank, and ICB Islami Bank are the banks.

This information was revealed by Bangladesh Bank sources on Sunday (January 5).

Earlier, on Saturday, Syed Wasek Md. Ali, Managing Director (MD) of First Security Islami Bank, was sent on compulsory leave on charges of negligence of duty. The authorities found him negligent in his duties by disbursing loans to S Alam Group through irregularities. He will be on leave from Sunday to April 4.

A senior official of Bangladesh Bank said that the Managing Directors (MD) of five more banks have been sent on leave to facilitate international audits. Today, Sunday, a meeting of the chairmen of the 5 banks was held with the Governor of the Central Bank, Dr. Ahsan H. Mansur. The meeting ordered the removal of the MDs of these banks.