First Security Islami Bank (FSIB) has fired a newly appointed deputy managing director over his alleged involvement in irregularities at his previous place of employment, Social Islami Bank Limited (SIBL).

The board has one director and four independent directors

Social Islami Bank Ltd (SIBL) today appointed Belal Ahmed as acting chairman for its board of directors after Md Mahbub Ul Alam resigned from the post on January 26.

Four more shariah-based banks have been found to have taken emergency funds, which are usually taken during extraordinary circumstances, in an attempt at dressing up their balance sheet for last year.

Social Islami Bank gets nod to raise funds of Tk 600 crore by issuing non-convertible, unsecured, mudaraba subordinated floating rate bond.

Islami Bank, Social Islami Bank and First Security Islami Bank lent about Tk 9,500 crore under suspicious circumstances, as reported by different media. Of the sum, Tk 7,246 crore has been taken from Islami Bank alone.