The Bangladesh Bank on appointed Wednesday an observer in the board of directors of the National Bank Limited (NBL), a leading commercial bank in the country's private sector, reports UNB.
Official sources said the central bank's Forex Reserve and Treasury Management Department general manager Kazi Saidur Rahman has been appointed the observer at the NBL board following some irregularities in the loan disbursement at the bank's Gulshan and Nimtali branch in the capital.
The appointment of the observer at the NBL board was made through a letter issued by the Bangladesh Bank's Offsite Supervision Department on Wednesday.
Sources said the central bank appointed the observer at the NBL as per the Article 49 of the Bank Companies Act which is normally applied to restrain deterioration of the management condition of a bank.
The BB order said Kazi Saidur Rahman would perform his duty as an observer in the NBL board until further order. The BB letter has directed the NBL authorities to send the agenda of the NBL board meeting to Mr. Saidur Rahman at least three working days before the meeting.
NBL managing director Shafiqur Rahman resigned after the alleged irregularities in the bank's two city branches was unearthed by the Bangladesh Bank authorities.
BB appoints observer in NBL board
FE Team | Published: October 09, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
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