Basic Bank board recast

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FE Report
The government Thursday reconstituted the Board of Directors of state-owned Bangladesh Small Industries and Commerce Bank (BASIC) Ltd giving appointments to a new chairman and five directors with the specialised bank, sources in the finance ministry said.

The Ministry of Finance (MoF) through an office order made the new appointments and cancelled the earlier appointments of incumbents.
The new policymakers of the Bank have been appointed for the next three years.
Both Prime Minister Sheikh Hasina and Bangladesh Bank okayed the new members of the Board of Directors prior to make their appointments effective, sources said.
The new chairman of BASIC is Sheikh Abdul Hai Bacchu, a former Bangladesh Awami League lawmaker.
The newly appointed Directors are-MD Jahangir Akhand Salim, President, Chandpur Chamber of Commerce and Industry, MD Shakhawat Hossain, former Customs Commissioner, Bijoy Bhattachariya, Joint Secretary, MoF, Razia Begum, Additional Secretary, Ministry of Education, Chairman, Bangladesh Small and Cottage Industries Corporation and a Director General of the Prime Minister's Office.
Currently, the Secretary of the Ministry of Industries is the Chairman of BASIC, while bureaucrats of different ministries of the government and an Executive Director of Bangladesh bank are the Board Members of the profit making government-owned bank.