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'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.
Published : 5 July 2014, 10:20 AM
Updated : 5 July 2014, 07:12 PM
Saturday's announcement comes a day after the state-owned specialised bank's 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 bank's chairman and MD before."
He stopped short of naming him.
Muhith said the person's name would be known once a circular was issued on Sunday.
BASIC Bank Managing Director Kazi Faqurul 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 bank's chairman went over to Muhith's house and handed over his resignation.
Minister Muhith has been saying that the government will restructure the board.
Also Read: ‘No let-off for BASIC Bank boss’
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