Written by The Banking Post
Bangladesh Bank has reconstituted the board of ICB Islamic Bank PLC by appointing three independent directors as part of its ongoing efforts to improve governance and oversight in the banking sector.
The central bank issued the directive through a letter dated May 13, according to a disclosure published by the bank on Sunday.
The newly appointed independent directors are A. K. M. Ehsan, Muhammad Hafizur Rahman and Mahmudul Amin Masud.
Market insiders said the move reflects the regulator’s continued push to strengthen corporate governance, accountability and operational discipline, particularly in financially weak banks.
They noted that the inclusion of former senior central bank officials and experienced banking and accounting professionals is expected to improve oversight, compliance and risk management practices at the bank.
ICB Islamic Bank has been facing prolonged operational and financial challenges, including high levels of non-performing loans and capital shortfalls. The bank has remained under close regulatory monitoring for several years.
Banking analysts said the appointment of independent directors could help improve transparency and reinforce the bank’s internal governance structure at a time when regulators are placing greater emphasis on depositor protection and institutional accountability.
Bangladesh Bank has recently taken a series of measures, including board restructuring and management changes at several banks, to restore confidence and improve governance standards across the banking sector.
