First Security Islami Bank PLC has forcefully sent its managing director, Syed Waseque Md Ali, on leave due to his alleged involvement in loan irregularities with companies linked to S Alam Group.

Today, the bank's board of directors made the decision during a meeting. According to an office order shared with the bank's employees, the leave will begin on January 5 and end on April 4 this year.

Abu Reza Md Yeahia, the additional managing director of the bank, will assume the role of managing director (current charge).

The Daily Star attempted to contact Syed Waseque Md Ali by phone, but he did not respond as of the time of filing this report.

Bank officials stated that Ali was sent on leave forcefully after an internal audit uncovered his involvement in loan irregularities related to S Alam Group.