The government on Sunday dissolved the board of directors of state-owned BASIC Bank apparently to comply with a central bank recommendation.
The decision of the government came a two days into the resignation of BASIC Bank chairman Sheikh Abdul Hye Bacchu. Bacchu tendered his resignation letter to Finance Minister Abul Maal Abdul Muhith on Friday.
Confirming the matter, a senior Bank and Financial Institutions Division (BFDI) official of the Finance Ministry told The New Nation that the seven-member board of the bank has been dissolved under section 46 of Bank Company Act 1991.
The BFDI of the Finance Ministry issued a circular in this regard on Sunday afternoon.
In two other circulars issued on same say, the ministry also announced the appointment of the new chairman of the scam-hit bank and accepted the resignation letter of Sheikh Abdul Hye Bachchu.
According to a circular, Alauddin A Majid, the incumbent chairman of Bangladesh Krishi Bank has been appointed as the new chairman of BASIC Bank with immediate effect.
Majid, a renowned banker of the country, was also served as the Managing Director of the BASIC Bank.
Besides, the BFDI also has sent the names of the new board of directors to the central bank yesterday for its clearance.
“We have sent names of the new board members to the central bank for their CIB clearance,” the BFDI official said.
The new board members of the BASIC Bank are: Md Asaduzzaman, former deputy managing director of Commerce Bank, Hasan Mahmud, FCA, Raihana Anisa Yusuf Ali, ex-managing director of House Building Finance Corporation, Muhid Ahmed, Dhaka University teacher, Mamun Al Rashid, joint secretary of BFDI and one additional secretary of industries ministry.
The members of the previous board were: Sheikh Abdul Hye Bacchu, Shubhashish Bose, Shyam Sunder Sikder, Neelufar Ahmed, Quamrun Naher Ahmed, Md Anwarul Islam and Anis Ahamad.
Earlier, Bangladesh Bank (BB) recommended the dissolution of the board of the state-owned bank after detection of Tk 4,500 crore loan irregularities by the board members.The members of the previous board were: Sheikh Abdul Hye Bacchu, Shubhashish Bose, Shyam Sunder Sikder, Neelufar Ahmed, Quamrun Naher Ahmed, Md Anwarul Islam and Anis Ahamad.
Earlier, Bangladesh Bank (BB) recommended the dissolution of the board of the state-owned bank after detection of Tk 4,500 crore loan irregularities by the board members.
