New board of SIBL formed

Dissolving the board of directors of the Social Islami Bank Limited (SIBL), Bangladesh Bank (BB) has formed a new board for SIBL.

The central bank has appointed five independent directors at the Shariah-based lender, according to a letter issued by the central bank Sunday.

Major (retd) Dr Md Rezaul Haque, the bank's founding shareholder, has been made director of the new board.

The four independent directors are - Maksuda Begum, a former executive director of the Bangladesh Bank; Dr M Sadiqul Islam, a professor at the Department of Finance at Dhaka University; Md Morshed Alam Khandkar, a former deputy managing director of Rupali Bank; and chartered accountant Md Anwar Hossain.