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Islami Bank MD sent on mandatory leave
The Board of Directors of Islami Bank Bangladesh Limited has decided to send its Managing Director (MD) and Chief Executive Officer (CEO), Md. Omar Faruk Khan, on a one-and-a-half-month mandatory leave.
The decision was taken during a board meeting on Sunday (April 12) and will come into effect from Monday (April 13).
According to sources, the move follows a directive from Bangladesh Bank. While banking regulations typically require a board to seek central bank approval for removing or changing an MD, in this case, the mandatory leave was implemented directly upon the central bank's instructions.
Khan was appointed as the MD of Islami Bank in August last year.
A veteran banker with nearly four decades of experience, he joined Islami Bank in 1986. Throughout his career, he has held significant roles at the head office, including positions in Treasury, Foreign Trade, and Corporate Investment, reports UNB.
He is also a Diplomat Associate of the Institute of Bankers, Bangladesh.