Published: 07:46 PM, 11 June 2026
Ashraful Alam made Islami Bank Observer
Bangladesh Bank has appointed Ashraful Alam in the post of Observer for Islami Bank Bangladesh PLC. Bangladesh Bank informed on Wednesday (10 June 2026) that Ashraful Alam has been placed in this post for closely conducting surveillance on the operations of Islami Bank, preserving the bank's goodwill and ensuring safety of depositors' funds.
The central bank has stated that Ashraful Alam will be attending all meetings of the Islami Bank board of directors and he will be watching all activities of the bank. The newly appointed Observer is also going to give necessary guidelines and suggestions to Islami Bank for restoring stability, transparency, good governance and discipline.
The central bank is optimistic that appointing an Observer for Islami Bank will regain customers' satisfaction and confidence. It may be added that Islami Bank suffered a lot of unrest a few days ago and the restless situation is still going on with worried account holders. Hundreds of people who introduced themselves as members of a group called "Islami Bank Customers Forum" agitated over some decisions of Islami Bank recently and violence broke out between these people and police force.
A great deal of controversies and mismanagement took place in Islami Bank during the previous years being inflicted with a reign of irregularities and corruption articulated by notorious financial perpetrator S. Alam and his cohorts. Islami Bank once upon a time was one of the most profitable financial institutions in Bangladesh but last few years this bank was mired in allegations associated with illegal money transfer and loan scams.
Bangladesh Bank's former Deputy Governor Khurshid Alam has been appointed in the Chairman post of Islami Bank of late and it is being hoped that he will be able to reinstate the bank in a good position with his expertise and professional skills.
