Renowned banker to head BASIC board A renowned banker will head the new BASIC Bank board of directors that will be announced Sunday, Finance Minister AMA Muhith has said. Saturdays announcement comes a day after the state-owned specialised banks chairman Sheikh Abdul Hye Bachchu resigned. Asked about the new chairman, Muhith said, He is a well known banker. He would be someone who has been a banks chairman and MD before. He stopped short of naming him. Muhith said the persons name would be known once a circular was issued on Sunday. BASIC Banks managing director Fakhrul Islam was removed on May 25 after allegations of loan irregularities surfaced in three branches amounting to nearly Tk 40 billion. The Bangladesh Bank found the allegations to be true in its investigation and on May 29 recommended dissolving the BASIC board. On Friday, the banks chairman went over to Muhiths house and handed over his resignation. Minister Muhith has been saying that the government will restructure the board.
Posted on: Sat, 05 Jul 2014 15:32:11 +0000
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