BB asks BASIC Bank to follow recruitment policy properly

The central bank has warned the BASIC Bank Limited of taking appropriate measures if the state-owned bank does not follow recruitment policy properly.

The Bangladesh Bank (BB) sent an instruction to this effect Wednesday to the BASIC Bank, officials said.

The BASIC Bank will have to follow both the BB's policy and its own policy, approved by its board of directors for recruitment and promotion, according to the instruction.

"We'll take appropriate actions against the authorities concerned of the BASIC Bank if they fail to maintain recruitment and promotion policy properly," a BB senior official explained.

The central bank earlier found irregularities in lending, recruitment and promotion in the bank, the central banker said without elaborating.

The BB's latest instruction came two days after imposition of restrictions on both sanction and disbursement of fresh loans from three branches - Dilkusha, Shantinagar and Gulshan - of the specialised bank.