The National Bank board was dissolved by the Bangladesh Bank (BB) on Tuesday once more.
The banking regulator said in an order signed by BB governor Ahsan H. Mansur that the bank’s board has been disbanded for the sake of depositors’ funds and the general public interest.
According to the BB, the board’s inability to make choices about policy caused the bank’s financial situation to worsen.
The BB claims that the board participated in actions that went against the interests of the depositors.
The banking watchdog dissolved and restructured the board of directors of National Bank for the first time in December last year, but dissolved that board again in May this year for the second time.
Banking sector sources said several previous directors of the National Bank were representatives of various sisters concerns, including anonymous, of Chattogram-based S Alam Group. As a result, some people are considering this as a step to free the bank from the grip of S Alam Group, which has six banks under its control.
After reconstruction, the bank’s entrepreneur and former chairman Abdul Awal Mintoo, former director Zakaria Taher and Moazzem Hossain have been appointed as directors of the bank.
Apart from this, the central bank has appointed four independent directors of National Bank. The new chairman will be appointed from the seven directors.
