New Board of Directors formed in National Bank, 10 people were appointed – 2024-05-07 11:05:57

Bangladesh Bank has formed a new board of directors with the chairman of the private national bank. The bank’s board members resigned together on Sunday (May 5) and the central bank formed a new board of directors in the private bank on the same day.

The central bank made the change in the board of directors of the bank a week after withdrawing from its decision to merge with United Commercial Bank (UCB).

Earlier on April 27, National Bank Limited (NBL) decided not to merge with any bank. According to the decision of the bank’s board meeting on that day, they started the process of recovering defaulted loans to strengthen the National Bank. Targets are also set for various branches in debt collection. But most of the board members resigned, including the new chairman of the National Bank, accusing the central bank of arbitrariness and undue interference.

Meanwhile, since the directors resigned on May 5, Bangladesh Bank formed a new board of directors of 10 members headed by Khalilur Rahman, the owner’s representative. Most of the directors including Parveen Haque Shikder of the previous board have dropped out.

However, the central bank dissolved the board of this bank even 5 months ago. In December last year, Bangladesh Bank dissolved the board of directors of the National Bank, alleging lack of good governance and poor financial condition.

Then on April 9 this year, the decision to merge was taken in the meeting of the Governor of the Central Bank and the Managing Director (MD) of UCB.

In an order sent to the Managing Director of National Bank on Sunday, the Central Bank appointed Khalilur Rahman as the new Chairman of the Board of Directors. He is an entrepreneurial director of National Bank. Entrepreneurial shareholder Moazzem Hossain has been appointed as director. Lt. has been appointed as director. J. Md. Sofiqur Rahman (Retd.), former Managing Director of Premier Bank Mohammad Riazul Karim, FCMA, Ershad Mahmud has been appointed as business representative.

Besides, senior advocate Ehsanul Karim of Bangladesh Supreme Court and professor AKM Tafazzal Haque of Chittagong University have been appointed as new directors in the bank.

Three people have been appointed as independent directors in the bank. They are Chittagong University Professor Md. Helal Uddin Nizami, Chartered Accountant Dr. Ratna Dutta and former executive director of Bangladesh Bank ABM Zahurul Huda.

Bangladesh Bank spokesperson Majbaul Haque said that to strengthen the board of directors of the National Bank, the board has been restructured with the representative of the owner as the chairman. To ensure good governance in the bank.

Meanwhile, the new board of National Bank called a press conference on Monday. In the press conference, the newly formed board members and management authorities of National Bank will talk about the overall situation and future plans of the bank.