Dhaka, April 13 -- Managing Director of Al Arafah Islami Bank PLC Farman R Chowdhury has been sent on forced leave for three months after the central bank found alleged involvement in irregularities in agent banking operations.

According to a letter signed by the bank's chairman Khwaja Shahriar, the board of directors of the Shariah-based bank in its 421st board meeting held on Sunday has reviewed the special inspection report by the Bangladesh Bank (BB) concerning the various issues and operations of the bank, with special focus on its agent banking division.

"The special findings have held you and a number of your teammates accountable for certain irregularities and lapses in governance and oversight," the letter issued to the managin...