Islami Bank Bangladesh will appoint three external auditors to investigate irregularities in loan approvals, forex dealings, and employee recruitment over the past seven years. The new board of directors, established on August 22, plans to examine past loan disbursals, particularly those linked to S Alam Group, which borrowed Tk 74,900 crore—47% of the bank’s total loans. The audit will also cover the bank’s investments in US dollars and review practices in its investment, treasury, and HR departments. This move follows the bank’s separation from S Alam Group, which had significant influence over its operations.
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