The central bank has dissolved the board of directors of the IFIC Bank PLC and formed a new board for the private sector bank in line with its ongoing banking sector reforms.
Besides, Bangladesh Bank (BB appointed four independent directors and two representatives from the government for the IFIC bank, which is previously controlled by Salman F Rahman, Salman F Rahman-- former adviser to ousted prime minister Sheikh Hasina.
The independent directors are former managing director of the National Bank Limited (NBL) Md Mehmud Hossain, former executive director of the Bangladesh Bank Ebtadul Islam, Professor of the BRAC University Economic Department Sazzad Zahir and Chartered Accountant Kazi Md Mahbub Kashem.
Representatives from the government are Additional Secretary of the Finance Division Md Golam Mostafa and Joint Secretary of the Finance Division Muhammad Manzarul Haque, according to a letter issued by the central bank on Wednesday (September 4).
