Business Desk : dhakamirror.com
Social Islami Bank Ltd (SIBL) has appointed Belal Ahmed as the acting chairman of its board of directors after Md Mahbub Ul Alam resigned. Previously, he served the bank’s board as vice-chairman.
Ahmed is the son-in-law of Mohammed Saiful Alam, the chairman of Chattogram-based S Alam Group. He represents Unitex Steel Mills Ltd to the board of SIBL.
He is the managing director of Unitex Spinning, Unitex Composite Mills, Unitex LP Gas, Unitex Petroleum, Unitex Cement and Unitex Steel Mills, according to the bank’s annual report for 2021.
Along with Mahbub Ul Alam, the bank’s Additional Managing Director Abu Reza Md Yeahia submitted his resignation on January 26.
Both resigned for personal reasons, said Zafar Alam, managing director of the bank.
Mahbub Ul Alam went to the United States after submitting his resignation letter to spend time with his family members, he said.
SIBL has recently faced a wide range of scams, which have eroded the depositor’s confidence in the bank.
The central bank has recently extended cash support to the bank by using its various windows so that it could meet the depositors’ demands.
S Alam Group took over the bank in 2017. Since then, the financial health of the lender has deteriorated.
– With The Daily Star input
