Islami Bank board sends MD on compulsory leave before term ends

The board of directors of Islami Bank Bangladesh has sent its Managing Director (MD) Omar Faruk Khan on compulsory leave, less than eight months after his appointment to the top post.

The decision was taken during a board meeting on Sunday, a bank officer confirmed to bdnews24.com.

Khan was appointed as MD on Aug 4 last year while he was serving in an acting capacity.

The central bank had issued a no-objection certificate for his appointment on the same day.

His tenure was originally set to run until Jan 30, 2028.

The move mirrors the departure of his predecessor, Mohammed Monirul Moula, who served as MD for four and a half years before being sent on compulsory leave in April last year and subsequently removed.

Khan had taken over the acting responsibilities following Moula's exit.

Khan joined Islami Bank in 1986 after completing his post-graduation in Sociology from Dhaka University.

He served in various key positions at the bank for 37 years before moving to NRB Bank Limited as an additional managing director, where he also served as acting MD.

He returned to Islami Bank as additional managing director (AMD) following the change in government last year before being elevated to the top executive role.