The Bangladesh Bank has dissolved the entire board of directors of Islami Bank Bangladesh PLC, including the chairman, effective Sunday, June 14th. The decision was made under sections 45 and 47(3) of the Bank Companies Act of 1991. Authorities stated the move was necessary to protect the interests of the bank, its depositors, and the general public. The Bangladesh Bank did not initially disclose specific reasons for the board’s removal beyond citing broader interests. This action signifies increased regulatory scrutiny within the Bangladeshi banking sector. Further details regarding the appointment of a new board are expected to be announced soon, as per the Bank Companies Act. The move aims to ensure stability and responsible governance within Islami Bank, a major financial institution in Bangladesh.