Now vice chairman Yousuf Abdullah leaves Islami Bank
Islami Bank's Vice Chairman Yousuf Abdullah Al-Rajhi left the bank in October, following the withdrawal of his nominator Al-Rajhi Co for Industry and Trade KSA from the bank's board of directors.
The bank has appointed Tanveer Ahmad as the vice chairman of the board. He initially joined the bank's board as a nominated director by Paradise International Limited.
This information has been confirmed by the bank's monthly shareholding statement, which is available on its website.
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The Saudi Arabia-based Al-Rajhi Co also sold out its holding in the bank.
Al-Rajhi Co had 9.93% or 15.99 crore shares and Yousuf Abdullah Al-Rajhi had 99,935 shares in the bank.
Besides, Islami Bank's former director Saudi Arabia resident Abdullah Abdul Aziz Al-Rajhi sold his entire holdings of 12.21 crore shares in October.
As a result, the foreign holdings of the bank came down to 8.26% in October from 26.59% in September.
Meanwhile, United Arab Emirates based BTA Finance Limited has joined the Islami Bank's board and nominated Yousuf Abdullah Al-Rajhi as a director.
BTA Finance has bought 4.95% shares of the bank through block market on the Dhaka bourse.
In September, the Islamic Development Bank (IDB), a multilateral development finance institution focused on Islamic finance, withdrew its directorship from Islami Bank Bangladesh Limited.
As of 31 October, sponsors and directors hold 35.89% shares of Islami Bank, which was 40.88% a month ago. Local sponsors and directors hold 30.93% shares of the bank and foreign directors have 4.95% shares.
