Bangladesh Bank has appointed former Deputy Governor Md Khurshid Alam as an Independent Director and Chairman of Islami Bank Bangladesh PLC, according to a letter sent to the bank’s managing director on Sunday evening.
The central bank stated that the appointment was made under the powers vested in Sections 45 and 47(3) of the Bank Company Act.
Earlier on the same day, Jubaidur Rahman resigned from the position of chairman, clearing the way for the new appointment.
Khurshid Alam obtained a Master’s degree from the Faculty of Commerce at the University of Dhaka and subsequently an MBA degree. He joined Bangladesh Bank in 1988 as an Assistant Director. During his career at the central bank, he served in various important departments, including the Banking Regulations and Policy Department, Bank Inspection Department, Financial Institutions and Markets Department, Agricultural Credit Department, Payment Systems Department, Department of Currency Management, Department of Off-site Supervision, SME and Special Programs Department, and the Secretary’s Department.
His appointment as chairman of one of the country’s largest private commercial banks comes at a time when the banking sector is undergoing significant regulatory oversight. Further details on his priorities for the bank are awaited.
