Islami Bank sees big changes as Saudi company withdraws directorship
Country’s largest private sector lender has mentioned the change in its shareholding report for July this year
A big change has been made in the position of directors in the board of Islami Bank Bangladesh Limited.
Country's largest private sector lender has mentioned the change in its shareholding report for July this year. The report was also submitted to the stock exchanges to comply with the regulatory requirement.
According to the report, Arabsas Travel and Tourist Agency, a Saudi Arabia-based company, withdrew the directorship by sending a letter on 5 July, and the bank approved it on 26 July through board meeting. Earlier, Musaid Abdullah A Al-Rajhi served as the director of Islami Bank for a long time on behalf of the company.
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Arabsas Travel holds 9.99% shares of Islami Bank.
Besides, in July, Islami Bank appointed Abu Sayeed Mohammad Quasem, nominated by Armada Spinning Mills, Showkat Hossain, nominated by Kingsway Endeavors, and Jamal Mostafa Chowdhury, nominated by Uniglobe Business Resources, as shareholder directors.
The three organizations jointly hold 11.07% shares of Islami Bank.
Earlier in June, three companies withdrew their directorships from the bank. At that time, Professor Nazmul Hasan, Professor Salim Uddin and Major General (retired) Abdul Matin were the nominee directors of these three companies on the board of the bank.
And in June, Ahsanul Alam, son of S Alam Group Chairman Saiful Alam Masood, was appointed as a shareholder director of the bank as a nominee of JMC Builders.
