, April 12 -- Mohammed Altaf Hussain has been appointed as the Acting Managing Director of Islami Bank Bangladesh Limited, one of the leading private sector banks in the country. His appointment will take effect from Monday (April 13).

The decision was finalized during a meeting of the bank's Board of Directors on Sunday (April 12). During the same meeting, the board decided to send the current Managing Director and CEO, MD. Omar Faruk Khan, on a one-and-a-half-month mandatory leave, reportedly following a directive from Bangladesh Bank.

Prior to this new role, Altaf Hussain served as the Additional Managing Director (AMD) of the bank. A seasoned banker with extensive experience, he has previously held the position of Joint Managing Dir...