Islami Bank chairman is not a loan defaulter, central bank says

Bangladesh Bank has given an explanation on criticism over the allegations of loan default surrounding the newly appointed chairman of Islami Bank Bangladesh, Md Khurshid Alam.

“Khurshid Alam is not a loan defaulter personally. The loan taken in the name of an organisation owned by his wife has defaulted,” Arif Hossain Khan, spokesperson and executive director of the central bank, told reporters on Tuesday.

The spokesperson said, “As the company owned by Khurshid Alam’s wife has defaulted on its loans, Khurshid Alam cannot be called a loan defaulter. The two issues are totally separate. In this context, there is no bar for him to become a bank chairman.”