Bangladesh Bank has dissolved the entire board of directors of Islami Bank Bangladesh PLC, the country’s largest Shariah-based bank. The decision, announced Sunday, cites concerns for the interests of depositors and the general public. Assistant Spokesperson Shahriyar Siddiqui confirmed the central bank acted under the authority granted by the Bank Companies Act of 1991. The move effectively removes the chairman and all other board members from their positions. While specific reasons beyond “public interest” haven’t been fully detailed, the action signals regulatory intervention. This represents a significant shakeup for Islami Bank, a major player in Bangladesh’s financial sector. Further details regarding the future leadership and direction of the bank are expected to be released by Bangladesh Bank.