BB approves Hamid’s reappointment as MD of Agrani Bank

Siddique Islam | Published: July 15, 2015 00:00:00 | Updated: November 30, 2024 06:01:00

The central bank has approved Tuesday the reappointment of Syed Abdul Hamid as the Managing Director and Chief Executive Officer of the Agrani Bank Limited for another year, officials said.
The Bangladesh Bank (BB) gave the approval responding to two proposals, submitted by the board of directors of the state-owned commercial bank (SoCB), to the central bank dated on July 13 and June 9 last.
"We have approved the reappointment of the Agrani Bank's MD and CEO for another year but the ongoing investigation into Mr. Hamid's alleged involvement in the irregularities in sanctioning of loans will be completed in line with the existing rules and regulations," an executive director of the BB told the FE.
He also said the Agrani Bank's board of directors in a recent investigation found anomalies in sanctioning loans, which was detected by the BB last year.
Earlier on July 9 last, the Bank and Financial Institutions Division (BFID) under the Ministry of Finance re-appointed Mr. Hamid as MD and CEO of the Agrani Bank for another year without taking prior approval from the central bank.
Later, the board of directors of SoCB sent a fresh proposal to the central bank on Monday (July 13) seeking permission for reappointment of Mr. Hamid as its MD and CEO for another year, the central banker added.
Firstly, on June 9 last, the board of directors of Agrani Bank Limited sought approval for re-appointment of the bank's MD and CEO but the BB was reluctant in this respect due to allegation of irregularities against him.
Earlier Mr. Hamid was made MD and CEO of the bank for a three-year term. He also served as MD (Additional Charge) and DMD of the same bank.
Mr. Hamid started his banking career with Janata Bank as Senior Principal Officer in 1985. He joined Agrani Bank as General Manager in 2005 where he was promoted to the post of Deputy Managing Director in 2007.
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