Seven SIBL directors resign

Seven members of board of directors of the Social Islami Bank Ltd (SIBL) have resigned during a board meeting, weeks after a hostile takeover.

SIBL Chairman Anwarul Azim Arif said on Tuesday that four independent directors and three sponsor directors have resigned citing personal reasons.

According to the sources, the four independent directors who resigned; are Abdur Rahman, Abdul Mohit, AFM Asaduzzaman and Muinul Hasan.

The three sponsor directors are Hakim Md Yousuf Harun Bhuiyan, Lily Amin and Afia Begum.

Meanwhile, the SIBL appointed nine members to the board; seven independent directors and two sponsor directors; on Monday, said a SIBL official asking not to be named.

The names of the new board members are yet to be available.

According to several media report, the Islamic shariah-based bank saw a sudden management shakeup on October 30, with its top brass making an unceremonious exit.

Former Vice-chancellor of Chittagong University Anwarul Azim Arif was made new chairman of the board of directors of the bank and additional managing director of First Security Islami Bank Quazi Osman Ali managing director of the SIBL.

Vice-chairman of NRB Global Bank Belal Ahmed became chairman of the executive committee of SIBL in the latest bank-management reshuffle.