Dhaka, March 9 -- Amid ongoing concerns over governance and allegations against independent directors, Bangladesh Bank has appointed observers to four private commercial banks.

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

The central bank issued formal letters last week appointing four officials of director rank to monitor the operations of these banks. The move follows the dissolution of the banks' previous boards shortly after the fall of the Awami League government, which was triggered by widespread reports of corruption and financial anomalies.

Although independent and shareholder directors were subsequently appointed by the central bank to manage these banks, officials noted that the situation h...