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 Director (Investment).

Throughout his career, he has headed several key departments, including the Investment Management Wing, Dhaka Central Zone, Corporate Investment Division-2, and SME Investment Division-2.

Hussain began his journey with Islami Bank in 2004 as a Vice President. Before joining the bank, he worked with various development organizations, including BRAC, MIDAS, SEDF, and Grameen Fund.

On the academic front, Altaf Hussain earned his MBA from the Institute of Business Administration (IBA) at the University of Dhaka. He has also participated in numerous training programs organized by prestigious local and international institutions such as FBCCI, BIBM, IFC, DCCI, and CRISL.

Industry insiders believe that Hussain’s vast experience and expertise in the investment sector will play a crucial role in maintaining the continuity of Islami Bank’s operations during this transitional period.