{"id":29532,"date":"2017-01-08T22:04:05","date_gmt":"2017-01-08T22:04:05","guid":{"rendered":"http:\/\/en.bornomalanews.com\/?p=29532"},"modified":"2017-01-08T22:04:05","modified_gmt":"2017-01-08T22:04:05","slug":"foreign-partners-compelled-islami-bank-to-usher-in-changes-muhith","status":"publish","type":"post","link":"https:\/\/en.bornomalanews.com\/?p=29532","title":{"rendered":"Foreign partners compelled Islami Bank to usher in changes: Muhith"},"content":{"rendered":"
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\"finance_minister_ama_muhith\"Dhaka desk: The sudden changes at Islami Bank Bangladesh were made due to mounting pressure from the lender's foreign partners, Finance Minister AMA Muhith said yesterday.<\/p>\n

\u201cMany changes came as a consequence of the pressures from the foreign partners,\u201d he told reporters at his secretariat office.<\/p>\n

His comments came two days after the country's largest bank brought wholesale changes to its management, including appointment of former secretary Arastoo Khan as its chairman.<\/p>\n

Muhith said Jeddah-based Islamic Development Bank, which has stakes in IBBL, had considered retreating from the venture altogether but later changed its mind.<\/p>\n

For the last two years, the bank has been under surveillance, Muhith said.<\/p>\n

Questions were raised in the past about how the bank's profit is used. \u201cWhere does its profit go ultimately? How is it used? There were questions about this.\u201d<\/p>\n

Muhith said he does not think the sudden changes will significantly affect the health of the bank.<\/p>\n

But he declined to make any comment on why the changes were made.<\/p>\n

\u201cI cannot comment on the recent changes. I have to watch and I will talk to the new management shortly.\u201d<\/p>\n

About the changes, Muhith said: \u201cIt looks good.\u201d<\/p>\n

The finance minister went on to praise Islami Bank, saying the lender is the country's No. 1 bank in terms of business at the moment. The expansion of the bank is down to the good services it provides its clients.<\/p>\n

One of the reporters also asked whether a local business group is taking control of the bank, and whether it would be good for the government's efforts to establish governance in the banking sector if that happens.<\/p>\n

Muhith replied with a bit of surprise. \u201cIs any group taking control of the bank? I don't know. I cannot say which groups are involved.\u201d<\/p>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Dhaka desk: The sudden changes at Islami Bank Bangladesh were made due to mounting pressure from the lender’s foreign partners, Finance Minister AMA Muhith said yesterday. \u201cMany changes came as a consequence of the pressures from the foreign partners,\u201d he told reporters at his secretariat office. His comments came two days after the country’s largest […]<\/p>\n","protected":false},"author":7,"featured_media":29533,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[12],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n