Dhaka, Oct. 16 -- Recruitments at Islami Bank Bangladesh PLC occurred under the direct order of former prime minister Sheikh Hasina, with 48 officials appointed through such directives, according to sources within the bank.

Once regarded as one of the strongest private banks in Bangladesh, Islami Bank has slipped into the ranks of the weakest over just seven years -- since its takeover by military intelligence-backed interests on January 5, 2017.

The Financial Express has obtained a document listing the 48 individuals appointed under the former prime minister's directive in 2017.

Bank sources said the decline accelerated after Chattogram-based S Alam Group assumed control, allegedly consolidating dominance through irregular recruitment...