Dhaka, Jan 05 (V7N) — Bangladesh Bank has ordered the managing directors (MDs) of six banks, including four under the control of S Alam Group, to go on compulsory leave. However, they will be allowed to return to their positions if investigations find them not guilty of any misconduct, the central bank has clarified.

Bangladesh Bank spokesperson Husne Ara Shikha confirmed the decision on Sunday evening.

The affected banks are:

1. First Security Islami Bank

2. Social Islami Bank Limited (SIBL)

3. Union Bank

4. Global Islami Bank

5. Exim Bank

6. ICB Islami Bank

Earlier, on January 2, Syed Wasek Md. Ali, the MD of First Security Islami Bank, was placed on compulsory leave for alleged negligence of duty.

This move comes amid growing scrutiny of banks under the control of S Alam Group, as well as heightened efforts by Bangladesh Bank to address irregularities and ensure stability in the financial sector.

The central bank has assured that this action is part of due diligence and aims to uphold accountability and transparency in the banking system. Further investigations are ongoing.

END/MSS/AJ