Bangladesh Bank has appointed observers to closely monitor the activities of four private sector banks.

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

A letter was sent to the officials appointed in this regard from the relevant department of Bangladesh Bank on Monday (March 9).

As per the decision of the central bank, Munir Ahmed Chowdhury, director of Bank Supervision Department-12, has been appointed as an observer at National Bank. Mohammad Anisur Rahman, director of Islamic Banking Regulations and Policies Department, has been appointed as an observer at Al-Arafah Islami Bank.

In addition, ANM Moinul Kabir, director of Payment Systems Department was made observer at Premier Bank, and AKM Kamruzzaman, director of Forex Reserve and Treasury Management Department-1, was made observer at IFIC Bank.

As per the central bank's instructions, these appointed officers will participate in the meetings of the boards of directors, executive committees and risk management committees of the banks concerned.

This will strengthen direct monitoring of the banks' operational activities, risk management and financial condition, according to relevant sources.