S Alam Group chairman’s son Ahsanul seeks BB consent for directorship in Islami Bank

Ahsanul Alam, son of S Alam Group Chairman Saiful Alam Masood, has applied to the central bank to get no-objection-certificate (NOC) to be a director of Islami Bank.

The board of Islami Bank made him director and elected him as the chairman of the bank in a meeting held on 13 June.

Earlier on 12 June, he resigned from the chairman post of Union bank, according to bank insiders. He became chairman of Union bank in 2020.

In this regard, a top official of Islami Bank said, "The application regarding directorship has been sent to the central bank, but there is a board meeting next week and he [Ahsanul] may become chairman then."

Despite the numerous social media posts circulating since last night stating that Ahsanul Alam has assumed the position of chairman at Islami Bank, the bank has clarified that they have only submitted an application to the central bank for his appointment as a director.

An official of Bangladesh Bank, on condition of anonymity, said, "A person named Ahsanul Alam has sent an application to become the director of Islami Bank on Wednesday. As information about him in CIB is clear, a copy of the application has been sent to the governor. But it has not been approved so far."