Bangladesh Association of Banks gets new chairman after 17 years

Abdul Hai Sarker takes charge replacing Nazrul Islam Mazumder, who had held the position since January 2008

The Bangladesh Association of Banks, or BAB, has seen a change in leadership after 17 years, with Dhaka Bank Chairman Abdul Hai Sarker assuming the top position.

Sarker was elected as the new chairman at the BAB general meeting on Monday.

Sarker told bdnews24.com: "We will work for the development of the banking sector. We will talk to everyone and proceed with everyone's opinions in mind."

Nazrul Islam Mazumder, the former chairman of EXIM Bank and founder of the NASSA Group, had been the chairman of BAB since January 2008.

Following the fall of the government on Aug 5, driven by a student-led movement, some bank entrepreneurs, like Awami League leaders, went into hiding. Mazumder also did not appear in public after that period.

During this time, the Bangladesh Bank restructured the board of EXIM Bank, removing Mazumder, which led to his losing the leadership of BAB as well.

The new board of BAB, the organisation of bank owners, includes Abdul Mannan, chairman of First Security Islami Bank, and Romo Rouf Chowdhury, chairman of Bank Asia, as vice-chairmen.

Previously, the two vice-chairmen positions were held by Abdus Samad Labu, former chairman of Al-Arafah Islami Bank and brother of Saiful Alam, chairman of S Alam Group, and Anisuzzaman Chowdhury, vice-chairman of United Commercial Bank, or UCB, who is the brother of former land minister Saifuzzaman Chowdhury. They both had to leave their bank leadership roles after the change of government.

Sarker, who was born in the northern district of Sirajganj, is one of the founding directors of Dhaka Bank. A businessman in the textile sector, he has served four terms as president of the Bangladesh Textile Mills Association, or BTMA, and was also a former vice-chairman of BAB.