Dhaka, March 9 -- Bangladesh Bank has appointed observers to the boards of four private banks struggling with financial irregularities and bad loans

It marked the first such move under new Governor Md Mostaqur Rahman on Monday.

The banks are National Bank, Premier Bank, IFIC Bank, and Al-Arafah Islami Bank.

Four senior central bank officials have been assigned: Munir Ahmed Chowdhury at National Bank, ANM Moinul Kabir at Premier Bank, AKM Kamruzzaman at IFIC Bank, and Mohammad Anisur Rahman at Al-Arafah Islami Bank.

Observers can attend board, executive, and audit committee meetings, offering advice and submitting reports to Bangladesh Bank, assisting the central bank to take informed steps on the troubled banks.

A spokesperson noted ...