DHAKA, June 14, 2026 (BSS) - Bangladesh Bank (BB) has dissolved the Board of Directors of Islami Bank Bangladesh PLC, including its chairman and all directors, with immediate effect to safeguard the interests of the bank, its depositors and the general public.

The central bank took the action by exercising powers under Sections 45 and 47(3) of the Bank Company Act, 1991, effectively cancelling the appointments of all members of the bank's board.

According to Bangladesh Bank, the decision was taken for protecting the interests of the bank-company, safeguarding depositors' interests, and serving the public interest.

Following the dissolution of the board, Mohammad Zahir Hossain, Executive Director of Bangladesh Bank, has been assigned to exercise all powers and perform the responsibilities of the board.

Under Section 47(3) of the Bank Company Act, 1991, he has been empowered to exercise all powers and perform all duties previously vested in the board of directors.

The appointment is aimed at ensuring the bank's operational stability and continuity while enabling all board-level functions to be carried out in accordance with the law.