The Managing Director and Chief Executive Officer of Islami Bank Bangladesh Limited, Mohammad Omar Faruk Khan, has been placed on mandatory leave for a period of one and a half months following a decision by the bank’s board of directors. The move, which takes effect from Monday (13 April), comes amid indications of regulatory intervention […]

Bangladesh’s newly enacted Bank Resolution Act has sparked widespread debate, after a contentious provision paved the way for former owners of distressed or merged banks to regain control under comparatively relaxed financial conditions. The legislation, which replaces an earlier ordinance issued during the interim administration, has been passed by parliament with most of its original […]

The Bangladesh Bank has introduced a stringent directive compelling all scheduled banks to accept and exchange torn, mutilated, and soiled banknotes, warning of strict penalties for non-compliance. The move comes in response to mounting public dissatisfaction over the widespread circulation of damaged currency, which has increasingly disrupted everyday financial transactions across the country. Issued on […]