Bangladesh Bank has decided to send Islami Bank Bangladesh Limited's managing director (MD) and chief executive officer (CEO) Md Omar Faruk Khan on compulsory leave for one and a half months.
The decision will be effective from Monday. The decision was taken at the bank's board of directors meeting held on Sunday (April 12).
Sources said that he was sent on leave in view of the instructions of Bangladesh Bank.
According to the prevailing rules in the banking sector, the board of directors usually seeks Bangladesh Bank's approval to remove or change the MD of a bank.
However, in this case, it is known that he has been given compulsory leave on the instructions of the central bank.
He was appointed as the MD of Islami Bank in August last year.
Md Omar Faruk Khan joined Islami Bank in 1986. During his career, he has served in various departments including treasury, foreign trade and corporate investment at the head office.
The banker, with nearly four decades of experience, is a diplomat associate of the Institute of Bankers Bangladesh.