The Bangladesh Bank on Tuesday dissolved the boards of Bangladesh Commerce Bank Ltd and Al-Arafah Islami Bank PLC (AIBL).

At the same time, a total of eight independent directors have been appointed in the two banks, while two directors appointed by the government have been retained.

According to a notice, Bangladesh Bank's former executive director Md Ataur Rahman, Meghna Bank’s former additional managing director Md Mohashin Miah, and chartered accountant Sheikh Ashrafuzzaman have been appointed as independent directors of Commerce Bank.

Besides, Kamrul Hoque Maruf, joint secretary of the Financial Institutions Division, and Md Golam Mortuza, deputy managing director of Janata Bank, have been appointed as directors of the bank.

Meanwhile, another five-member board has been formed for AIBL.

Khwaja Shahriar, former managing director of LankaBangla Finance, has been appointed as an independent director and chairman of the new board.

Other independent directors appointed in the bank are – former BB executive director Md Shahin Ul Islam, former deputy managing director of NRB Bank Md Abdul Wadud, Dhaka University's Department of Development Studies Prof M Abu Yusuf, and chartered accountant Mohammad Ashraful Hasan.