BB reconstitutes board of ICB Islamic Bank

Bangladesh Bank (BB) has reconstituted the board of ICB Islamic Bank PLC by appointing three independent directors in a move aimed at strengthening governance and oversight at the troubled private commercial bank.

The central bank issued the directive through a letter dated May 13, 2026, according to a disclosure published by the bank on Sunday.

The newly appointed independent directors are A. K. M. Ehsan, Muhammad Hafizur Rahman and Mahmudul Amin Masud.

Market insiders said the latest board reconstitution reflects the regulator’s continued efforts to improve corporate governance, ensure accountability and restore discipline in the banking sector, particularly in financially weak banks.

The inclusion of former senior central bank officials and experienced banking and accounting professionals is expected to enhance oversight, compliance and risk management practices at the bank, they added.

ICB Islamic Bank has long been facing operational and financial challenges, including a high volume of non-performing loans and capital shortfalls. The lender has remained under close regulatory monitoring over the past several years.

Banking sector analysts observed that the appointment of independent directors could help reinforce transparency and strengthen the bank’s internal governance structure at a time when regulators are placing greater emphasis on accountability and depositor protection.

The central bank in recent years has taken a series of measures, including board restructuring and management changes at several banks, to improve governance standards and restore confidence in the country’s banking sector.

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