The company is in talks with investment banks and plans to appoint IPO advisers within a month
6 BASIC Bank officials suspended
Six top officials of the state-owned Bangladesh Small Industries and Commerce Bank (BASIC) Limited have been has suspended for alleged malpractices.
Published : 17 April 2014, 01:00 PM
Updated : 17 April 2014, 05:47 PM
A Monaem Khan
Mr Kh Shamim Hasan
The bank’s Deputy Managing Director Monaem Khan is among them.
The decision taken by the nationalised bank’s Board of Directors on Tuesday was made public on Thursday.
An office order on the suspension had been issued on Tuesday, the bank’s Deputy Managing Director Ruhul Alam told bdnews24.com.
The five other suspended officials are General Managers Khandaker Shamim Hasan, Joynal Abedin Chowdhury, Mohammad Ali, Deputy General Manager Shefar Ahmed and Deputy Manager Jahid Hasan.
Newspapers had recently run reports on irregularities and corruption besetting the bank.
Zainul Abedin Choudhury
Mr Mohammad Ali
After Bangladesh Bank detected anomalies in its loan disbursement, it formed a committee to keeping the institution under close watch.
The state-owned bank has been suffering from an acute shortage of capital because of its aggressive loaning policy that often transgressed banking norms.
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