Dhaka, June 15 -- Association of Bankers, Bangladesh (ABB) has welcomed the central bank's decision to dissolve the existing board of directors of Islami Bank Bangladesh PLC, describing the move as a timely and prudent step to restore stability across the financial sector.

A statement issued on Monday from the office of ABB Chairman and Managing Director of City Bank, Mashrur Arefin, expressed relief over the central bank's intervention, noting that the ongoing crisis at Islami Bank had spiraled beyond a single institution and threatened the broader banking industry.

Now entire board of Islami Bank dissolved; administrator takes charge to maintain order

According to the release, the apex body of bank executives had formally conveyed it...