Staff Reporter :
Farmers Bank Chairman and Awami League leaver Dr Muhiuddin Khan Alamgir has step down from his post bowing to the pressure from the central bank.
The central bank in a statement issued on Monday night confirmed his resignation.
Earlier, Bangladesh Bank (BB) high-ups asked him to reign from his post for his failure in administering the bank.
The bank’s director Mohammad Masud has been made new chairman.
The central bank’s statement also said that the bank’s director and audit committee chairman Md Mahabubul Haque Chisty also resigned from his post.
He was directly involved in the bank’s Tk 50 crore loan irregularity, according to a BB investigation.
“The board of directors of Farmers Bank has already accepted their resignation,” added the BB statement.
As part of its management overhaul in line with BB directive, the troubled bank also reconstituted its executive committee, audit committee and risk management committee.
Farmers Bank recently appealed for Tk 300 crore emergency fund from the BB as it was facing an acute liquidity crisis.
BB rejected the bank’s bid and pushed for management overhaul to get the financial support.
