Dhaka, March 17 -- Following the political transition on August 5, Bangladesh Bank dissolved the board of directors of Al-Arafah Islami Bank due to alleged corruption and mismanagement by former Vice Chairman of S. Alam Group and ex-Chairman of AIBL, Abdus Samad Labu, as well as Khalilur Rahman, owner of KDS Group, and his son Selimur Rahman.

However, concerns have emerged regarding the competence and integrity of the newly appointed interim board members.

Unlike the previous board, which used to finalize investment proposals and other banking decisions within three to four hours, the interim board is reportedly taking weeks to make decisions.

As a result, customers are losing confidence and shifting their business to other banks. The ...