Dhaka, Bangladesh (BBN) - The central bank of Bangladesh has asked the board of directors of National Bank Limited (NBL) to comply with its inspection reports properly.
The instruction was given at a board meeting held at Simanta Square in Dhaka on Monday with NBL director Parveen Haque Sikder in the chair.
The Bangladesh Bank (BB) also advised the board for taking necessary measures to avoid similar mistaken in future, officials said.
The BB appointed newly observer to the private commercial bank (PCB) along with others central bank officials, who were involved with the bank’s head office inspection also attended at the meeting.
Earlier on October 8 last, the central bank appointed Kazi Sayedur Rahman, general manager of the Forex Reserve and Treasury Management Department of BB, as an observer to the PCB for improving financial health through strengthening its monitoring and supervision.
The observer is empowered to attend policy making meetings including board of directors, executive committee and audit committee of the bank to oversee their functions.
The observer has been appointed following some irregularities in the loan disbursement at the bank's Gulshan and Nimtali branch in the capital Dhaka.
NBL managing director Shafiqur Rahman resigned after the alleged irregularities in the bank's two city branches was unearthed by the BB officials, sources in the banking sector said.
BBN/SSR/AD-22Oct14-11:27am (BST)