Islami Bank’s MD sent on mandatory leave

The Board of Directors of Islami Bank Bangladesh PLC has sent its Managing Director Omar Faruk Khan on mandatory leave.
The decision was taken at a board meeting held on Sunday, chaired by Chairman M Zubaidur Rahman.

According to meeting sources, in the absence of Omar Faruk Khan, Additional Managing Director (AMD) Altaf Hossain will serve as the acting MD of the bank.

Bank sources also said that the central bank had verbally instructed the chairman of Islami Bank to send the MD on leave. Following that directive, the board meeting on Sunday finalised the decision to place him on mandatory leave.

It is noted that on 4 August 2024, Omar Faruk Khan was appointed as MD of Islami Bank Bangladesh PLC after serving as AMD. Prior to that, he also served as the acting managing director of NRB Bank.