Seven SIBL directors resign

Seven directors of the Social Islami Bank Ltd (SIBL) resigned yesterday amid panic among top officials of the bank following large-scale changes in the organisations executive body. Among the seven, four were individual directors and three were shareholders, said a bank insider. The change was made at an executive meeting of the directors. Nine new directors were inducted into the board there. An SIBL spokesperson confirmed that the seven directors had resigned citing personal reasons.

Earlier, on October 30, the privately owned SIBL saw a large-scale change in its management as its chairman, chairman of the executive committee and managing director (MD) resigned after an emergency board meeting under tight security in a Dhaka hotel. Anwarul Azim, former vice-chancellor of Chittagong University, has been made the new chairman. Recently, shares of the bank, worth about Tk. 400 crore, owned by the United Group were purchased by different Chittagong-based business

For more details, click on: Seven SIBL directors resign