Dhaka, Bangladesh (BBN) - The central bank has dissolved the board of directors of National Bank further, just more than three months after restructuring it, officials said.
The Bangladesh Bank (BB) issued an order in this regard to the board and formed a new one on Tuesday.
The central bank dissolved the board to protect the interests of depositors and banks and to ensure good governance, according to a BB order, signed by the Governor Dr. Ahsan H. Mansur.
Meanwhile, the BB informed about its instruction to the managing director of the first generation private commercial bank (PCB) through a letter about latest instructions on the day.
The central bank formed the new board of directors compressing three sponsor directors including Abdul Awal Mintoo along with four independent directors to run the bank properly.
“The directors will be elected their chairman,” a senior BB official told BBN while replying to a query.
Earlier on May 05 this year, the BB issued an order to dissolve the then board of National Bank and formed a new board with its sponsor director Khalilur Rahman as the chairman in order to ensure good governance in the ‘troubled’ bank
Besides, the BB issued an order on December 21 in 2023 to dissolve the then board of National Bank and formed a new board.
BBN/SSR/AD